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You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: A summary of options outstanding and vested as of December 31, 2019 is as follows:
The total intrinsic value of options exercised during 2019, 2018, and 2017 was $318.5 million, $17.4 million, and $6.6 million, respectively.
The weighted average grant date fair value of options granted during the years ended December 31, 2019, 2018, and 2017, was $19.80, $9.07, and $6.44 per share, respectively. During the year ended December 31, 2019, 2,141,078 options vested. There were 2,939,947 options unvested as of December 31, 2019.
As of December 31, 2019, $30.3 million of total unrecognized compensation cost related to stock options was expected to be recognized over a weighted average period of approximately 2.5 years.
| | Exercise Prices | $1.50 to $1.90 | 2.86 to 6.40 | 8.04 to 11.72 | 12.20 to 15.06 | 16.06 to 24.00 | 31.99 to 42.21 | 55.10 to 79.25 | 5,884,742 | |
| Options Outstanding | Number Outstanding | 32,913 | 209,126 | 498,869 | 2,227,421 | 1,772,062 | 847,010 | 297,341 | 5,884,742 |
| | Weighted Average Life (in Years) | 1.4 | 3.3 | 4.2 | 6.7 | 8.1 | 9.0 | 9.5 | |
| Options Vested and Exercisable | Number Vested and Exercisable | 32,913 | 209,126 | 498,869 | 1,587,924 | 560,632 | 42,839 | 12,492 | 2,944,795 |
| | Weighted Average Life (in Years) | 1.4 | 3.3 | 4.2 | 6.5 | 8.1 | 8.7 | 9.3 | | | What are the weighted average grant date fair value of options granted during the years ended December 31, 2019, 2018, and 2017 respectively? | "$19.80", "$9.07", "$6.44" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: A summary of options outstanding and vested as of December 31, 2019 is as follows:
The total intrinsic value of options exercised during 2019, 2018, and 2017 was $318.5 million, $17.4 million, and $6.6 million, respectively.
The weighted average grant date fair value of options granted during the years ended December 31, 2019, 2018, and 2017, was $19.80, $9.07, and $6.44 per share, respectively. During the year ended December 31, 2019, 2,141,078 options vested. There were 2,939,947 options unvested as of December 31, 2019.
As of December 31, 2019, $30.3 million of total unrecognized compensation cost related to stock options was expected to be recognized over a weighted average period of approximately 2.5 years.
| | Exercise Prices | $1.50 to $1.90 | 2.86 to 6.40 | 8.04 to 11.72 | 12.20 to 15.06 | 16.06 to 24.00 | 31.99 to 42.21 | 55.10 to 79.25 | 5,884,742 | |
| Options Outstanding | Number Outstanding | 32,913 | 209,126 | 498,869 | 2,227,421 | 1,772,062 | 847,010 | 297,341 | 5,884,742 |
| | Weighted Average Life (in Years) | 1.4 | 3.3 | 4.2 | 6.7 | 8.1 | 9.0 | 9.5 | |
| Options Vested and Exercisable | Number Vested and Exercisable | 32,913 | 209,126 | 498,869 | 1,587,924 | 560,632 | 42,839 | 12,492 | 2,944,795 |
| | Weighted Average Life (in Years) | 1.4 | 3.3 | 4.2 | 6.5 | 8.1 | 8.7 | 9.3 | | | As of December 31, 2019, what is the value of the total unrecognized compensation cost related to stock options was expected to be recognized? | $30.3 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 16. INCOME TAXES
The provision for (benefit from) income taxes on income from continuing operations before income taxes consists of the following (in thousands):
| | Currently payable | Federal | State | Foreign | 16,000 | Deferred and other | Federal | State | Foreign | (9,777) | Provision for income taxes |
| 2019 | : | $1,995 | 557 | 13,448 | 16,000 | : | (407) | 516 | (9,886) | (9,777) | $6,223 |
| 2018 | : | $1,163 | 114 | 107,487 | 108,764 | : | 26,334 | (489) | (20,414) | 5,431 | $114,195 |
| 2017 | : | $5,617 | 1,022 | 116,022 | 122,661 | : | 1,413 | (153) | (30,510) | (29,250) | $93,411 | | In which years was provision for income taxes calculated? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: (4) Goodwill, Customer Relationships and Other Intangible Assets
Goodwill, customer relationships and other intangible assets consisted of the following:
Our goodwill was derived from numerous acquisitions where the purchase price exceeded the fair value of the net assets acquired (including the acquisition described in Note 2—Acquisition of Level 3). As of December 31, 2019, the weighted average remaining useful lives of the intangible assets were approximately 8 years in total, approximately 9 years for customer relationships, 4 years for capitalized software and 3 years for trade names.
Total amortization expense for intangible assets for the years ended December 31, 2019, 2018 and 2017 was $1.7 billion, $1.8 billion and $1.2 billion, respectively. As of December 31, 2019, the gross carrying amount of goodwill, customer relationships, indefinite-life and other intangible assets was $44.0 billion.
| | 2019 | (Dollars in million) | Goodwill | Customer relationships, less accumulated amortization of $9,809 and $8,492 | Indefinite-life intangible assets | Other intangible assets subject to amortization | Capitalized software, less accumulated amortization of $2,957 and $2,616 | Trade names, less accumulated amortization of $91 and $61 | Total other intangible assets, net |
| As of December 31 | 2019 | (Dollars in million) | $21,534 | $7,596 | $269 | : | $1,599 | 103 | $1,971 |
| | 2018 | | 28,031 | 8,911 | 269 | : | 1,468 | 131 | 1,868 | | What was the gross carrying amount of goodwill, customer relationships, indefinite-life and other intangible assets as of December 31, 2019? | $44.0 billion |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: (4) Goodwill, Customer Relationships and Other Intangible Assets
Goodwill, customer relationships and other intangible assets consisted of the following:
Our goodwill was derived from numerous acquisitions where the purchase price exceeded the fair value of the net assets acquired (including the acquisition described in Note 2—Acquisition of Level 3). As of December 31, 2019, the weighted average remaining useful lives of the intangible assets were approximately 8 years in total, approximately 9 years for customer relationships, 4 years for capitalized software and 3 years for trade names.
Total amortization expense for intangible assets for the years ended December 31, 2019, 2018 and 2017 was $1.7 billion, $1.8 billion and $1.2 billion, respectively. As of December 31, 2019, the gross carrying amount of goodwill, customer relationships, indefinite-life and other intangible assets was $44.0 billion.
| | 2019 | (Dollars in million) | Goodwill | Customer relationships, less accumulated amortization of $9,809 and $8,492 | Indefinite-life intangible assets | Other intangible assets subject to amortization | Capitalized software, less accumulated amortization of $2,957 and $2,616 | Trade names, less accumulated amortization of $91 and $61 | Total other intangible assets, net |
| As of December 31 | 2019 | (Dollars in million) | $21,534 | $7,596 | $269 | : | $1,599 | 103 | $1,971 |
| | 2018 | | 28,031 | 8,911 | 269 | : | 1,468 | 131 | 1,868 | | The weighted average remaining useful lives of which items were provided? | "intangible assets", "customer relationships", "capitalized software", "trade names" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: (4) Goodwill, Customer Relationships and Other Intangible Assets
Goodwill, customer relationships and other intangible assets consisted of the following:
Our goodwill was derived from numerous acquisitions where the purchase price exceeded the fair value of the net assets acquired (including the acquisition described in Note 2—Acquisition of Level 3). As of December 31, 2019, the weighted average remaining useful lives of the intangible assets were approximately 8 years in total, approximately 9 years for customer relationships, 4 years for capitalized software and 3 years for trade names.
Total amortization expense for intangible assets for the years ended December 31, 2019, 2018 and 2017 was $1.7 billion, $1.8 billion and $1.2 billion, respectively. As of December 31, 2019, the gross carrying amount of goodwill, customer relationships, indefinite-life and other intangible assets was $44.0 billion.
| | 2019 | (Dollars in million) | Goodwill | Customer relationships, less accumulated amortization of $9,809 and $8,492 | Indefinite-life intangible assets | Other intangible assets subject to amortization | Capitalized software, less accumulated amortization of $2,957 and $2,616 | Trade names, less accumulated amortization of $91 and $61 | Total other intangible assets, net |
| As of December 31 | 2019 | (Dollars in million) | $21,534 | $7,596 | $269 | : | $1,599 | 103 | $1,971 |
| | 2018 | | 28,031 | 8,911 | 269 | : | 1,468 | 131 | 1,868 | | Which item has the longest weighted average remaining useful life? | Customer relationships |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: ADJUSTED EBITDA
(1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN.
Fiscal 2019 adjusted EBITDA increased by 10.0% (8.5% in constant currency) as a result of: • an increase in the American broadband services segment mainly as a result of strong organic growth combined with the impact of the MetroCast and FiberLight acquisitions; and • an increase in the Canadian broadband services segment resulting mainly from a decline in operating expenses.
For further details on the Corporation’s adjusted EBITDA, please refer to the "Segmented operating and financial results" section.
| 1)(Years ended August 31, | (in thousands of dollars, except percentages) | Canadian broadband services | American broadband services | Inter-segment eliminations and other | 1,107,940 | |
| 2019 | $ | 688,681 | 465,645 | (46,386) | 1,107,940 |
| 2018 | $ | 681,020 | 369,200 | (43,402) | 1,006,818 |
| Change | % | 1.1 | 26.1 | 6.9 | 10.0 |
| Change in constant currency | % | 1.3 | 21.5 | 6.8 | 8.5 |
| Foreign exchange impact | $ | (1,102) | 16,911 | (12) | 15,797 | | What was the exchange rate in 2019? | 1.3255 USD/CDN. |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: ADJUSTED EBITDA
(1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN.
(2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy as well as to reclassify results from Cogeco Peer 1 as discontinued operations. For further details, please consult the "Accounting policies" and "Discontinued operations" sections.
(3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN.
Fiscal 2019 adjusted EBITDA increased by 10.0% (8.5% in constant currency) as a result of: • an increase in the American broadband services segment mainly as a result of strong organic growth combined with the impact of the MetroCast and FiberLight acquisitions; and • an increase in the Canadian broadband services segment resulting mainly from a decline in operating expenses.
For further details on the Corporation’s adjusted EBITDA, please refer to the "Segmented operating and financial results" section.
| 1)(Years ended August 31, | (in thousands of dollars, except percentages) | Canadian broadband services | American broadband services | Inter-segment eliminations and other | 1,107,940 | |
| 2019 | $ | 688,681 | 465,645 | (46,386) | 1,107,940 |
| 2018 | $ | 681,020 | 369,200 | (43,402) | 1,006,818 |
| Change | % | 1.1 | 26.1 | 6.9 | 10.0 |
| Change in constant currency | % | 1.3 | 21.5 | 6.8 | 8.5 |
| Foreign exchange impact | $ | (1,102) | 16,911 | (12) | 15,797 | | What was the exchange rate in 2018? | 1.2773 USD/CDN. |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Seasonality and Backlog
We experience a slight seasonal pattern to our business. Overall, the third and fourth fiscal quarters are typically the strongest quarters of our fiscal year, whereas the first fiscal quarter is negatively affected by holidays and the second fiscal quarter may be affected by adverse winter weather conditions in some of our markets.
Certain of our end markets experience some seasonality. Our sales in the automotive market are dependent upon global automotive production, and seasonal declines in European production may negatively impact net sales in the fourth fiscal quarter. Also, our sales in the energy market typically increase in the third and fourth fiscal quarters as customer activity increases.
Customer orders typically fluctuate from quarter to quarter based upon business and market conditions. Backlog is not necessarily indicative of future net sales as unfilled orders may be cancelled prior to shipment of goods. Backlog by reportable segment was as follows:
We expect that the majority of our backlog at fiscal year end 2019 will be filled during fiscal 2020.
| | 2019 | | Transportation Solutions | Industrial Solutions | Communications Solutions | Total |
| | 2019 | | $ 1,639 | 1,315 | 361 | $ 3,315 |
| Fiscal Year End | 2018 | (in millions) | $ 1,779 | 1,245 | 441 | $ 3,465 | | What were the segments for which backlog was calculated in the table? | "Transportation Solutions", "Industrial Solutions", "Communications Solutions" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: The failed-sale-leaseback accounting treatment had the following effects on our consolidated results of operations for the years ended December 31, 2018 and 2017:
After factoring in the costs to sell the data centers and colocation business, excluding the impact from the failed-sale-leaseback accounting treatment, the sale resulted in a $20 million gain as a result of the aggregate value of the proceeds we received exceeding the carrying value of the assets sold and liabilities assumed. Based on the fair market values of the failed-sale-leaseback assets, the failed-sale-leaseback accounting treatment resulted in a loss of $102 million as a result of the requirement to treat a certain amount of the pre-tax cash proceeds from the sale of the assets as though it were the result of a financing obligation. The combined net loss of $82 million was included in selling, general and administrative expenses in our consolidated statement of operations for the year ended December 31, 2017.
Effective November 3, 2016, which is the date we entered into the agreement to sell a portion of our data centers and colocation business, we ceased recording depreciation of the property, plant and equipment to be sold and amortization of the business’s intangible assets in accordance with applicable accounting rules. Otherwise, we estimate that we would have recorded additional depreciation and amortization expense of $67 million from January 1, 2017 through May 1, 2017.
Upon adopting ASU 2016-02, accounting for the failed sale leaseback is no longer applicable based on our facts and circumstances, and the real estate assets and corresponding financing obligation were derecognized from our consolidated financial statements. Please see “Leases” (ASU 2016-02) in Note 1— Background and Summary of Significant Accounting Policies for additional information on the impact the new lease standard will have on the accounting for the failed-sale-leaseback.
| | December 31, | 2018 | (Dollars in millions) | Increase in revenue | Decrease in cost of sales | Increase in loss on sale of business included in selling, general and administrative expense | Increase in depreciation expense (one-time) | Increase in depreciation expense (ongoing) | Increase in interest expense | Decrease in income tax expense | Decrease in net income |
| Positive | December 31, | 2018 | (Dollars in millions) | $74 | 22 | — | — | (69) | (55) | 7 | $(21) |
| | | 2017 | | 49 | 15 | (102) | (44) | (47) | (39) | 65 | (103) | | The table contains the consolidated results of operations for which years? | "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Fiscal 2021 LTIP
Grants made in Fiscal 2019 under the Fiscal 2021 LTIP took effect on August 6, 2018 with the goal of measuring performance over the three year period starting July 1, 2018. The table below illustrates the target value of each element under the Fiscal 2021 LTIP for each Named Executive Officer.
Awards granted in Fiscal 2019 under the Fiscal 2021 LTIP were in addition to the awards granted in Fiscal 2018, Fiscal 2017, and prior years. For details of our previous LTIPs, see Item 11 of our Annual Report on Form 10-K for the appropriate year.
| Named Executive Officer | Mark J. Barrenechea | Madhu Ranganathan | Muhi Majzoub | Gordon A. Davies | Simon Harrison |
| Performance Share Units | $2,815,000 | $500,000 | $550,000 | $500,000 | $218,750 |
| Restricted Share Units | $1,407,500 | $250,000 | $275,000 | $250,000 | $109,375 |
| Stock Options | $1,407,500 | $250,000 | $275,000 | $250,000 | $109,375 |
| Total | $5,630,000 | $1,000,000 | $1,100,000 | $1,000,000 | $437,500 | | Who are the Named Executive Officers? | "Mark J. Barrenechea", "Madhu Ranganathan", "Muhi Majzoub", "Gordon A. Davies", "Simon Harrison" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Summary of Results
The following table sets forth, for the periods indicated, certain key operating results and other financial information (in thousands, except per share data):
| | 2019 | Net revenue | Gross profit | Operating income | Net income attributable to Jabil Inc | Earnings per share – basic | Earnings per share – diluted |
| | 2019 | $25,282,320 | $1,913,401 | $701,356 | $287,111 | $1.85 | $1.81 |
| Fiscal Year Ended August 31, | 2018 | $22,095,416 | $1,706,792 | $542,153 | $86,330 | $0.50 | $0.49 |
| | 2017 | $19,063,121 | $1,545,643 | $410,230 | $129,090 | $0.71 | $0.69 | | How many years did the net revenue exceed $20,000,000 thousand? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: The ESPP provides for annual increases in the number of shares available for issuance under the ESPP on the first day of each fiscal year beginning in fiscal 2014, equal to the least of: (i) 1% of the outstanding shares of all classes of common stock on the last day of the immediately preceding year; (ii) 1,250,000 shares; or (iii) such other amount as may be determined by the board of directors. During the year ended December 31, 2019, a total of 810,459 shares of Class A common stock were added to the ESPP Plan in connection with the annual increase provision. At December 31, 2019, a total of 3,918,712 shares were available for issuance under the ESPP.
The weighted-average assumptions used to value ESPP rights under the Black-Scholes-Merton option-pricing model and the resulting offering grant date fair value of ESPP rights granted in the periods presented were as follows:
As of December 31, 2019 and 2018, there was approximately $2.3 million and $1.5 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to ESPP, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 0.4 years, respectively
| | 2019 | Expected term (in years) | Expected volatility | Risk-free interest rate | Expected dividend yield | Offering grant date fair value of ESPP rights |
| | 2019 | 0.5 | 47% | 2.01% | 0% | $33.66 |
| Year ended December 31, | 2018 | 0.5 | 42% | 2.31% | 0% | $18.07 |
| | 2017 | 0.5 | 34% | 1.20% | 0% | $9.52 | | As of December 31, 2019 and 2018, what are the respective number of unrecognized share-based compensation expense, net of estimated forfeitures, related to ESPP? | "$2.3 million", "$1.5 million" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: The ESPP provides for annual increases in the number of shares available for issuance under the ESPP on the first day of each fiscal year beginning in fiscal 2014, equal to the least of: (i) 1% of the outstanding shares of all classes of common stock on the last day of the immediately preceding year; (ii) 1,250,000 shares; or (iii) such other amount as may be determined by the board of directors. During the year ended December 31, 2019, a total of 810,459 shares of Class A common stock were added to the ESPP Plan in connection with the annual increase provision. At December 31, 2019, a total of 3,918,712 shares were available for issuance under the ESPP.
The weighted-average assumptions used to value ESPP rights under the Black-Scholes-Merton option-pricing model and the resulting offering grant date fair value of ESPP rights granted in the periods presented were as follows:
As of December 31, 2019 and 2018, there was approximately $2.3 million and $1.5 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to ESPP, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 0.4 years, respectively
| | 2019 | Expected term (in years) | Expected volatility | Risk-free interest rate | Expected dividend yield | Offering grant date fair value of ESPP rights |
| | 2019 | 0.5 | 47% | 2.01% | 0% | $33.66 |
| Year ended December 31, | 2018 | 0.5 | 42% | 2.31% | 0% | $18.07 |
| | 2017 | 0.5 | 34% | 1.20% | 0% | $9.52 | | What are the respective expected volatility of ESPP rights for the year ended December 31, 2019 and 2018? | "47%", "42%" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: The ESPP provides for annual increases in the number of shares available for issuance under the ESPP on the first day of each fiscal year beginning in fiscal 2014, equal to the least of: (i) 1% of the outstanding shares of all classes of common stock on the last day of the immediately preceding year; (ii) 1,250,000 shares; or (iii) such other amount as may be determined by the board of directors. During the year ended December 31, 2019, a total of 810,459 shares of Class A common stock were added to the ESPP Plan in connection with the annual increase provision. At December 31, 2019, a total of 3,918,712 shares were available for issuance under the ESPP.
The weighted-average assumptions used to value ESPP rights under the Black-Scholes-Merton option-pricing model and the resulting offering grant date fair value of ESPP rights granted in the periods presented were as follows:
As of December 31, 2019 and 2018, there was approximately $2.3 million and $1.5 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to ESPP, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 0.4 years, respectively
| | 2019 | Expected term (in years) | Expected volatility | Risk-free interest rate | Expected dividend yield | Offering grant date fair value of ESPP rights |
| | 2019 | 0.5 | 47% | 2.01% | 0% | $33.66 |
| Year ended December 31, | 2018 | 0.5 | 42% | 2.31% | 0% | $18.07 |
| | 2017 | 0.5 | 34% | 1.20% | 0% | $9.52 | | What are the respective expected volatility of ESPP rights for the year ended December 31, 2018 and 2017? | "42%", "34%" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 5. Accrued expenses
Accrued expenses consisted of the following:
| October 31, | 2019 | (In thousands) | Workers’ compensation claims | Accrued wages | Accrued rebates | Accrued vacation | Accrued property taxes | Accrued payroll taxes | Other accrued expenses | Total accrued expenses |
| | 2019 | | $9,687 | 19,525 | 13,529 | 10,592 | 11,331 | 8,290 | 9,986 | $82,940 |
| | 2018 | | $9,020 | 14,142 | 7,828 | 8,554 | 9,453 | 9,034 | 11,922 | $69,953 | | What is the Workers’ compensation claims for fiscal years 2019 and 2018 respectively? | "$9,687", "$9,020" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 5. Accrued expenses
Accrued expenses consisted of the following:
| October 31, | 2019 | (In thousands) | Workers’ compensation claims | Accrued wages | Accrued rebates | Accrued vacation | Accrued property taxes | Accrued payroll taxes | Other accrued expenses | Total accrued expenses |
| | 2019 | | $9,687 | 19,525 | 13,529 | 10,592 | 11,331 | 8,290 | 9,986 | $82,940 |
| | 2018 | | $9,020 | 14,142 | 7,828 | 8,554 | 9,453 | 9,034 | 11,922 | $69,953 | | What is the Accrued wages for fiscal years 2019 and 2018 respectively? | "19,525", "14,142" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 5. Accrued expenses
Accrued expenses consisted of the following:
| October 31, | 2019 | (In thousands) | Workers’ compensation claims | Accrued wages | Accrued rebates | Accrued vacation | Accrued property taxes | Accrued payroll taxes | Other accrued expenses | Total accrued expenses |
| | 2019 | | $9,687 | 19,525 | 13,529 | 10,592 | 11,331 | 8,290 | 9,986 | $82,940 |
| | 2018 | | $9,020 | 14,142 | 7,828 | 8,554 | 9,453 | 9,034 | 11,922 | $69,953 | | What does the table provide data about? | Accrued expenses |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: STOCK OPTIONS
The following is a summary of stock option activity during the years ended December 31, 2019 and 2018:
| | Outstanding – December 31, 2017 | Options granted | Options exercised | Options forfeited | Outstanding – December 31, 2018 | Options granted | Options exercised | Options forfeited | Outstanding – December 31, 2019 | Exercisable – December 31, 2019 |
| Number of Options Outstanding | 2,341,340 | 376,667 | 224,400 | 6,961 | 2,486,646 | 50,832 | - | 181,281 | 2,356,197 | 1,843,468 |
| Weighted Average Exercise Price | $1.77 | 2.41 | 1.59 | 1.42 | $1.89 | 3.02 | | 2.23 | $1.89 | $1.75 |
| Average Remaining Contractual Life | 5.78 | | | | 7.01 | | | | 5.93 | 5.34 |
| Aggregate Intrinsic Value | $1,087 | | | | $1,550 | | | | $628 | $624 | | What are the respective outstanding options as at December 31, 2017 and 2018? | "2,341,340", "2,486,646" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: STOCK OPTIONS
The following is a summary of stock option activity during the years ended December 31, 2019 and 2018:
| | Outstanding – December 31, 2017 | Options granted | Options exercised | Options forfeited | Outstanding – December 31, 2018 | Options granted | Options exercised | Options forfeited | Outstanding – December 31, 2019 | Exercisable – December 31, 2019 |
| Number of Options Outstanding | 2,341,340 | 376,667 | 224,400 | 6,961 | 2,486,646 | 50,832 | - | 181,281 | 2,356,197 | 1,843,468 |
| Weighted Average Exercise Price | $1.77 | 2.41 | 1.59 | 1.42 | $1.89 | 3.02 | | 2.23 | $1.89 | $1.75 |
| Average Remaining Contractual Life | 5.78 | | | | 7.01 | | | | 5.93 | 5.34 |
| Aggregate Intrinsic Value | $1,087 | | | | $1,550 | | | | $628 | $624 | | What are the respective outstanding options as at December 31, 2018 and 2019? | "2,486,646", "2,356,197" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: STOCK OPTIONS
The following is a summary of stock option activity during the years ended December 31, 2019 and 2018:
| | Outstanding – December 31, 2017 | Options granted | Options exercised | Options forfeited | Outstanding – December 31, 2018 | Options granted | Options exercised | Options forfeited | Outstanding – December 31, 2019 | Exercisable – December 31, 2019 |
| Number of Options Outstanding | 2,341,340 | 376,667 | 224,400 | 6,961 | 2,486,646 | 50,832 | - | 181,281 | 2,356,197 | 1,843,468 |
| Weighted Average Exercise Price | $1.77 | 2.41 | 1.59 | 1.42 | $1.89 | 3.02 | | 2.23 | $1.89 | $1.75 |
| Average Remaining Contractual Life | 5.78 | | | | 7.01 | | | | 5.93 | 5.34 |
| Aggregate Intrinsic Value | $1,087 | | | | $1,550 | | | | $628 | $624 | | What are the respective outstanding and exercisable options at December 31, 2019? | "2,356,197", "1,843,468" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
14. Other Payables and Accruals
An analysis of other payables and accruals is as follows:
The unearned revenue represents charter hires received in advance in December 2019 relating to the hire period of January 2020 for 22 vessels (December 2018: 17 vessels).
| | 2018 | Unearned revenue | Accrued off-hire | Accrued purchases | Accrued interest | Other accruals | Total |
| As of December 31, | 2018 | 38,680 | 7,376 | 18,578 | 38,107 | 24,709 | 127,450 |
| | 2019 | 48,183 | 6,968 | 9,759 | 36,746 | 34,586 | 136,242 | | In which years was the other payables and accruals recorded for? | "2018", "2019" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
14. Other Payables and Accruals
An analysis of other payables and accruals is as follows:
The unearned revenue represents charter hires received in advance in December 2019 relating to the hire period of January 2020 for 22 vessels (December 2018: 17 vessels).
| | 2018 | Unearned revenue | Accrued off-hire | Accrued purchases | Accrued interest | Other accruals | Total |
| As of December 31, | 2018 | 38,680 | 7,376 | 18,578 | 38,107 | 24,709 | 127,450 |
| | 2019 | 48,183 | 6,968 | 9,759 | 36,746 | 34,586 | 136,242 | | How many vessels were hired in 2018? | 17 vessels |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Capitalized software development costs consisted of the following (in thousands):
The Company capitalized software development costs of $8.8 million, $8.8 million and $6.2 million during the years ended December 31, 2019, 2018 and 2017, respectively.
Amortized expense for capitalized software development costs was $7.0 million, $5.9 million and $5.0 million during the years ended December 31, 2019, 2018 and 2017, respectively. Amortization of capitalized software development costs is classified within cost of revenue in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company retired $4.6 million of fully amortized capitalized software development costs.
| | Gross carrying amount | Capitalized software development costs | Total capitalized software development costs | | Gross carrying amount | Capitalized software development costs | Total capitalized software development costs |
| | Gross carrying amount | $ 49,909 | $ 49,909 | | Gross carrying amount | $ 45,677 | $ 45,677 |
| | Amortization period | 3 years | | | Amortization period | 3 years | |
| As of December 31, 2019 | Accumulated amortization | $ (35,622) | $ (35,622) | As of December 31, 2018 | Accumulated amortization | $ (32,784) | $ (32,784) |
| | Net carrying amount | $ 14,287 | $ 14,287 | | Net carrying amount | $ 12,893 | $ 12,893 | | What was the company capitalized software development costs during the years ended December 31, 2019? | $8.8 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Capitalized software development costs consisted of the following (in thousands):
The Company capitalized software development costs of $8.8 million, $8.8 million and $6.2 million during the years ended December 31, 2019, 2018 and 2017, respectively.
Amortized expense for capitalized software development costs was $7.0 million, $5.9 million and $5.0 million during the years ended December 31, 2019, 2018 and 2017, respectively. Amortization of capitalized software development costs is classified within cost of revenue in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company retired $4.6 million of fully amortized capitalized software development costs.
| | Gross carrying amount | Capitalized software development costs | Total capitalized software development costs | | Gross carrying amount | Capitalized software development costs | Total capitalized software development costs |
| | Gross carrying amount | $ 49,909 | $ 49,909 | | Gross carrying amount | $ 45,677 | $ 45,677 |
| | Amortization period | 3 years | | | Amortization period | 3 years | |
| As of December 31, 2019 | Accumulated amortization | $ (35,622) | $ (35,622) | As of December 31, 2018 | Accumulated amortization | $ (32,784) | $ (32,784) |
| | Net carrying amount | $ 14,287 | $ 14,287 | | Net carrying amount | $ 12,893 | $ 12,893 | | What was the company capitalized software development costs during the years ended December 31, 2018? | $8.8 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Capitalized software development costs consisted of the following (in thousands):
The Company capitalized software development costs of $8.8 million, $8.8 million and $6.2 million during the years ended December 31, 2019, 2018 and 2017, respectively.
Amortized expense for capitalized software development costs was $7.0 million, $5.9 million and $5.0 million during the years ended December 31, 2019, 2018 and 2017, respectively. Amortization of capitalized software development costs is classified within cost of revenue in the consolidated statements of operations and comprehensive loss. During the year ended December 31, 2019, the Company retired $4.6 million of fully amortized capitalized software development costs.
| | Gross carrying amount | Capitalized software development costs | Total capitalized software development costs | | Gross carrying amount | Capitalized software development costs | Total capitalized software development costs |
| | Gross carrying amount | $ 49,909 | $ 49,909 | | Gross carrying amount | $ 45,677 | $ 45,677 |
| | Amortization period | 3 years | | | Amortization period | 3 years | |
| As of December 31, 2019 | Accumulated amortization | $ (35,622) | $ (35,622) | As of December 31, 2018 | Accumulated amortization | $ (32,784) | $ (32,784) |
| | Net carrying amount | $ 14,287 | $ 14,287 | | Net carrying amount | $ 12,893 | $ 12,893 | | What was the company capitalized software development costs during the years ended December 31, 2017? | $6.2 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Contractual Obligations
The following table summarizes our contractual obligations as of September 30, 2019 (in thousands):
Our principal executive offices, as well as our research and development facility, are located in approximately 29,000 square feet of office space in San Diego, California and the term of the lease continues through June 30, 2024. The average annual base rent under this lease is approximately $1.0 million per year. In connection with this lease, we received tenant improvement allowances totaling approximately $1.0 million. These lease incentives are being amortized as a reduction of rent expense over the term of the lease.
Our other offices are located in Paris, France; Amsterdam, The Netherlands; New York, New York; Barcelona, Spain; and London, United Kingdom. The
term of the Paris, France lease continues through July 31, 2021, with an annual base rent of approximately €0.4 million (or $0.4 million). The term of the
Amsterdam, The Netherlands lease continues through December 31, 2022, with an annual base rent of approximately €0.2 million (or $0.2 million). The term of
the New York, New York lease continues through November 30, 2024, with an annual base rent of approximately $0.2 million. The term of the Barcelona, Spain lease continues through May 31, 2023, with an annual base rent of approximately €0.1 million (or $0.1 million). The term of the London, United Kingdom lease continues through May 31, 2020, with an annual base rent of approximately £63,000 (or approximately $78,000). Our other offices are located in Paris, France; Amsterdam, The Netherlands; New York, New York; Barcelona, Spain; and London, United Kingdom. The term of the Paris, France lease continues through July 31, 2021, with an annual base rent of approximately €0.4 million (or $0.4 million). The term of the Amsterdam, The Netherlands lease continues through December 31, 2022, with an annual base rent of approximately €0.2 million (or $0.2 million). The term of the New York, New York lease continues through November 30, 2024, with an annual base rent of approximately $0.2 million. The term of the Barcelona, Spain lease continues through May 31, 2023, with an annual base rent of approximately €0.1 million (or $0.1 million). The term of the London, United Kingdom lease continues through May 31, 2020, with an annual base rent of approximately £63,000 (or approximately $78,000).
Other than the lease for our office space in San Diego, California, we do not believe that the leases for our offices are material to the Company. We believe our existing properties are in good condition and are sufficient and suitable for the conduct of its business.
| | Operating lease obligations | Other borrowings | Total |
| Less than 1 year | $1,699 | 131 | $1,830 |
| 1-3 years | $3,950 | 145 | $4,095 |
| 3-5 years | $2,707 | 219 | $2,926 |
| More than 5 years | $36 | 61 | $97 |
| Total | $8,392 | 556 | $8,948 | | Where are the principal executive offices, as well as research and development facility located? | San Diego, California |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: ICAR Vision Systems, S.L.
On October 16, 2017, Mitek Holding B.V., a company incorporated under the laws of The Netherlands and a wholly owned subsidiary of the Company (“Mitek Holding B.V.”), acquired all of the issued and outstanding shares of ICAR, a company incorporated under the laws of Spain (the “ICAR Acquisition”), and each of its subsidiaries, pursuant to a Share Purchase Agreement (the “Purchase Agreement”), by and among, the Company, Mitek Holding B.V., and each of the shareholders of ICAR (the “Sellers”). ICAR is a technology provider of identity fraud proofing and document management solutions for web, desktop, and mobile platforms. Upon completion of the ICAR Acquisition, ICAR became a direct wholly owned subsidiary of Mitek Holding B.V. and an indirect wholly owned subsidiary of the Company. ICAR is a leading provider of consumer identity verification solutions in Spain and Latin America. The ICAR Acquisition strengthens the Company’s position as a global digital identity verification powerhouse in the Consumer Identity and Access Management solutions market.
As consideration for the ICAR Acquisition, the Company agreed to an aggregate purchase price of up to $13.9 million, net of cash acquired. On October 16, 2017, the Company: (i) made a cash payment to Sellers of $3.0 million, net of cash acquired and subject to adjustments for transaction expenses, escrow amounts, indebtedness, and working capital adjustments; and (ii) issued to Sellers 584,291 shares, or $5.6 million, of Common Stock. In addition to the foregoing, the Sellers may be entitled to additional cash consideration upon achievement of certain milestones as follows: (a) subject to achievement of the revenue target for the fourth quarter of calendar 2017, the Company will pay to Sellers up to $1.5 million (the “Q4 Consideration”), which amount shall be deposited (as additional funds) into the escrow fund described below; and (b) subject to achievement of certain revenue and net income targets for ICAR for the twelve-month period ending on September 30, 2018, and the twelve-month period ending on September 30, 2019, the Company will pay to Sellers up to $3.8 million in additional cash consideration (the “Earnout Consideration”); provided that if the revenue target set forth in clause (a) is not met, then the Q4 Consideration will instead be added to the Earnout Consideration payable upon (and subject to) achievement of the revenue and net income targets for the twelve-month period ending on September 30, 2018. The Company estimated the fair value of the total Q4 Consideration and Earnout Consideration to be $2.9 million on October 16, 2017, which was determined using a discounted cash flow methodology based on financial forecasts determined by management that included assumptions about revenue growth and discount rates. Each quarter the Company revises the estimated fair value of the Earnout Consideration and revises as necessary.
The Company incurred $0.5 million of expense in connection with the ICAR Acquisition primarily related to legal fees, outside service costs, and travel expense, which are included in acquisition-related costs and expenses in the consolidated statements of operations and other comprehensive income (loss).
On October 16, 2017, the Company deposited $1.5 million of cash into an escrow fund to serve as collateral and partial security for working capital adjustments and certain indemnification rights. In April 2018, the Q4 Consideration of $1.5 million was deposited into the escrow fund. As a result of the achievement of earnout targets during fiscal 2018, the Company paid $1.8 million in January 2019. The Company intends to extend the period over which the remaining $1.8 million of earnout consideration is earned. A portion of the earnout consideration will be paid during first quarter of fiscal 2020 based on the achievement of revenue and income targets earned during fiscal 2019. The remaining portion of the earnout consideration will be paid out during the first quarter of fiscal 2021, which will be based on the achievement of certain revenue, income, development and corporate targets achieved during fiscal 2020. During the first quarter of fiscal 2020, the Company released all escrow funds, excluding $1.0 million which is being held for any potential settlement relating to the claims which may arise from the litigation which was brought on by Global Equity & Corporate Consulting, S.L. against ICAR as more fully described in Note 9.
The Company used cash on hand for cash paid on October 16, 2017, and under the terms of the Purchase Agreement, the Company has agreed to guarantee the obligations of Mitek Holding B.V. thereunder.
Acquisitions are accounted for using the purchase method of accounting in accordance with ASC Topic 805,Business Combinations. Accordingly, the results of operations of A2iA and ICAR have been included in the accompanying consolidated financial statements since the date of each acquisition. The purchase price for both the A2iA Acquisition and the ICAR Acquisition have been allocated to the tangible and intangible assets acquired and liabilities assumed based upon the respective estimates of fair value as of the date of each acquisition, and are based on assumptions that the Company’s management believes are reasonable given the information currently available.
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during the year ended September 30, 2018 a(mounts shown in thousands):
The goodwill recognized is due to expected synergies and other factors and is not expected to be deductible for income tax purposes. The Company estimated the fair value of identifiable acquisition-related intangible assets with definite lives primarily based on discounted cash flow projections that will arise from these assets. The Company exercised significant judgment with regard to assumptions used in the determination of fair value such as with respect to discount rates and the determination of the estimated useful lives of the intangible assets.
| | Current assets | Property, plant, and equipment | Intangible assets | Goodwill | Other non-current assets | Current liabilities | Deferred income tax liabilities | Other non-current liabilities | Net assets acquired |
| A2iA | $3,929 | 307 | 28,610 | 24,991 | 1,177 | (2,688) | (7,503) | (7) | $48,816 |
| ICAR | $2,036 | 83 | 6,407 | 6,936 | 87 | (1,652) | (1,602) | (828) | $11,467 |
| Total | $5,965 | 390 | 35,017 | 31,927 | 1,264 | (4,340) | (9,105) | (835) | $60,283 | | How much money did the Company deposit into an escrow fund in 2017 and 2018, respectively? | "$1.5 million", "$1.5 million" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: ICAR Vision Systems, S.L.
On October 16, 2017, Mitek Holding B.V., a company incorporated under the laws of The Netherlands and a wholly owned subsidiary of the Company (“Mitek Holding B.V.”), acquired all of the issued and outstanding shares of ICAR, a company incorporated under the laws of Spain (the “ICAR Acquisition”), and each of its subsidiaries, pursuant to a Share Purchase Agreement (the “Purchase Agreement”), by and among, the Company, Mitek Holding B.V., and each of the shareholders of ICAR (the “Sellers”). ICAR is a technology provider of identity fraud proofing and document management solutions for web, desktop, and mobile platforms. Upon completion of the ICAR Acquisition, ICAR became a direct wholly owned subsidiary of Mitek Holding B.V. and an indirect wholly owned subsidiary of the Company. ICAR is a leading provider of consumer identity verification solutions in Spain and Latin America. The ICAR Acquisition strengthens the Company’s position as a global digital identity verification powerhouse in the Consumer Identity and Access Management solutions market.
As consideration for the ICAR Acquisition, the Company agreed to an aggregate purchase price of up to $13.9 million, net of cash acquired. On October 16, 2017, the Company: (i) made a cash payment to Sellers of $3.0 million, net of cash acquired and subject to adjustments for transaction expenses, escrow amounts, indebtedness, and working capital adjustments; and (ii) issued to Sellers 584,291 shares, or $5.6 million, of Common Stock. In addition to the foregoing, the Sellers may be entitled to additional cash consideration upon achievement of certain milestones as follows: (a) subject to achievement of the revenue target for the fourth quarter of calendar 2017, the Company will pay to Sellers up to $1.5 million (the “Q4 Consideration”), which amount shall be deposited (as additional funds) into the escrow fund described below; and (b) subject to achievement of certain revenue and net income targets for ICAR for the twelve-month period ending on September 30, 2018, and the twelve-month period ending on September 30, 2019, the Company will pay to Sellers up to $3.8 million in additional cash consideration (the “Earnout Consideration”); provided that if the revenue target set forth in clause (a) is not met, then the Q4 Consideration will instead be added to the Earnout Consideration payable upon (and subject to) achievement of the revenue and net income targets for the twelve-month period ending on September 30, 2018. The Company estimated the fair value of the total Q4 Consideration and Earnout Consideration to be $2.9 million on October 16, 2017, which was determined using a discounted cash flow methodology based on financial forecasts determined by management that included assumptions about revenue growth and discount rates. Each quarter the Company revises the estimated fair value of the Earnout Consideration and revises as necessary.
The Company incurred $0.5 million of expense in connection with the ICAR Acquisition primarily related to legal fees, outside service costs, and travel expense, which are included in acquisition-related costs and expenses in the consolidated statements of operations and other comprehensive income (loss).
On October 16, 2017, the Company deposited $1.5 million of cash into an escrow fund to serve as collateral and partial security for working capital adjustments and certain indemnification rights. In April 2018, the Q4 Consideration of $1.5 million was deposited into the escrow fund. As a result of the achievement of earnout targets during fiscal 2018, the Company paid $1.8 million in January 2019. The Company intends to extend the period over which the remaining $1.8 million of earnout consideration is earned. A portion of the earnout consideration will be paid during first quarter of fiscal 2020 based on the achievement of revenue and income targets earned during fiscal 2019. The remaining portion of the earnout consideration will be paid out during the first quarter of fiscal 2021, which will be based on the achievement of certain revenue, income, development and corporate targets achieved during fiscal 2020. During the first quarter of fiscal 2020, the Company released all escrow funds, excluding $1.0 million which is being held for any potential settlement relating to the claims which may arise from the litigation which was brought on by Global Equity & Corporate Consulting, S.L. against ICAR as more fully described in Note 9.
The Company used cash on hand for cash paid on October 16, 2017, and under the terms of the Purchase Agreement, the Company has agreed to guarantee the obligations of Mitek Holding B.V. thereunder.
Acquisitions are accounted for using the purchase method of accounting in accordance with ASC Topic 805,Business Combinations. Accordingly, the results of operations of A2iA and ICAR have been included in the accompanying consolidated financial statements since the date of each acquisition. The purchase price for both the A2iA Acquisition and the ICAR Acquisition have been allocated to the tangible and intangible assets acquired and liabilities assumed based upon the respective estimates of fair value as of the date of each acquisition, and are based on assumptions that the Company’s management believes are reasonable given the information currently available.
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during the year ended September 30, 2018 a(mounts shown in thousands):
The goodwill recognized is due to expected synergies and other factors and is not expected to be deductible for income tax purposes. The Company estimated the fair value of identifiable acquisition-related intangible assets with definite lives primarily based on discounted cash flow projections that will arise from these assets. The Company exercised significant judgment with regard to assumptions used in the determination of fair value such as with respect to discount rates and the determination of the estimated useful lives of the intangible assets.
| | Current assets | Property, plant, and equipment | Intangible assets | Goodwill | Other non-current assets | Current liabilities | Deferred income tax liabilities | Other non-current liabilities | Net assets acquired |
| A2iA | $3,929 | 307 | 28,610 | 24,991 | 1,177 | (2,688) | (7,503) | (7) | $48,816 |
| ICAR | $2,036 | 83 | 6,407 | 6,936 | 87 | (1,652) | (1,602) | (828) | $11,467 |
| Total | $5,965 | 390 | 35,017 | 31,927 | 1,264 | (4,340) | (9,105) | (835) | $60,283 | | What are the estimated fair values of intangible assets of A2iA and ICAR Acquisition, respectively? | "28,610", "6,407" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: MARKET PRICES OF COMMON STOCK
The common stock of the Company is listed on the NASDAQ Global Market under the symbol “FEIM.”
| Fiscal Quarter | 2019 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | 2018 | First Quarter | Second Quarter | Third Quarter | Fourth Quarter |
| High Sale | | $8.95 | 11.38 | 13.38 | 13.52 | | $10.76 | 10.00 | 9.94 | 10.59 |
| Low Sale | | $7.30 | 7.80 | 9.60 | 10.80 | | $ 7.91 | 7.53 | 8.66 | 8.55 | | What is the high sale and low sale of the first quarter of 2019 respectively? | "$8.95", "$7.30" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Item 6. Selected Financial and Other Data
The following table sets forth selected historical consolidated financial data as of the dates and for the periods indicated. The selected consolidated statement of operations data for the years ended December 31, 2019, 2018 and 2017, and selected consolidated balance sheet data as of December 31, 2019 and 2018 have been derived from our audited consolidated financial statements and related notes appearing elsewhere in this Form 10-K. The selected consolidated statement of operations data for the years ended December 31, 2016 and 2015 and selected consolidated balance sheet data as of December 31, 2017, 2016 and 2015 have been derived from our audited consolidated financial statements, which are not included in this annual report on Form 10-K.
The results of operations for any period are not necessarily indicative of the results to be expected for any future period. The audited consolidated financial statements, from which the historical financial information for the periods set forth below have been derived, were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The selected historical consolidated financial data set forth below should be read in conjunction with, and are qualified by reference to “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our audited consolidated financial statements and related notes thereto appearing elsewhere in this annual report on Form 10-K.
(1) Loss for the year ended December 31, 2019 included $1,004 million in impairment charges associated with our Connect reporting unit, a non-cash expense of $170 for the settlement of certain pension plans and $80 million in restructuring charges. See Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Goodwill and Indefinite-Lived Intangible Asset”. See Note 11 “Pensions and Other Post-Retirement Benefits” for further discussion on the pension settlement charge.
(2) Loss for the year ended December 31, 2018 included $1,411 million in impairment charges associated with our Connect reporting unit and $139 million in restructuring charges. See Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Goodwill and Indefinite- Lived Intangible Assets”.
(3) Income for the year ended December 31, 2017 included $80 million in restructuring charges.
(4) Income for the year ended December 31, 2016 included $105 million in restructuring charges.
(5) Income for the year ended December 31, 2015 included $51 million in restructuring charges, a gain of $158 million recorded from the step acquisition of Nielsen Catalina Solutions and an $8 million charge associated with the change to the Venezuelan currency exchange rate mechanism.
(6) Depreciation and amortization expense included charges for the depreciation and amortization of tangible and intangible assets acquired in business combinations of $205 million, $220 million, $219 million, $210 million and $205 million for the years ended December 31, 2019, 2018, 2017, 2016 and 2015, respectively.
| (IN MILLIONS, EXCEPT PER SHARE AMOUNTS) | 2019(1) | Statement of Operations Data | Revenues | Depreciation and amortization(6) | Operating income/(loss) | Interest expense | Income/(loss) from continuing operations | Income/(loss) from continuing operations per common share (basic) | Income/(loss) from continuing operations per common share (diluted) | Cash dividends declared per common share | December 31, | (IN MILLIONS) | Balance Sheet Data | Total assets | Long-term debt including finance leases |
| Year Ended December 31, | 2019(1) | : | $6,498 | 756 | (93) | 397 | (403) | (1.17) | (1.17) | 1.11 | December 31, | 2019 | : | $14,319 | 8,309 |
| | 2018(2) | : | $6,515 | 675 | (475) | 394 | (700) | (2.00) | (2.00) | 1.39 | | 2018 | : | $15,179 | 8,387 |
| | 2017(3) | : | $6,572 | 640 | 1,214 | 374 | 440 | 1.20 | 1.20 | 1.33 | | 2017 | : | $16,866 | 8,441 |
| | 2016(4) | : | $6,309 | 603 | 1,130 | 333 | 507 | 1.40 | 1.39 | 1.21 | | 2016 | : | $15,730 | 7,926 |
| | 2015(5) | : | $6,172 | 574 | 1,098 | 311 | 575 | 1.55 | 1.54 | 1.09 | | 2015 | : | $15,303 | 7,338 | | How many of the years have revenue above 6,500 million? | "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 16. Segment, Geographic, and Significant Customer Information
With the exception of property and equipment, we do not identify or allocate our long-lived assets by geographic area. The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):
| | U.S. | International | Total |
| April 26, 2019 | $ 572 | 187 | $ 759 |
| April 27, 2018 | $ 566 | 190 | $ 756 | | Which years does the table provide information for property and equipment information for geographic areas based on the physical location of the assets? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 16. Segment, Geographic, and Significant Customer Information
With the exception of property and equipment, we do not identify or allocate our long-lived assets by geographic area. The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):
| | U.S. | International | Total |
| April 26, 2019 | $ 572 | 187 | $ 759 |
| April 27, 2018 | $ 566 | 190 | $ 756 | | How many years did International property and equipment exceed $150 million? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Share Repurchase Programs
On December 1, 2014, the Company announced the "Capital Allocation Policy" under which the Company intends to return to stockholders approximately 80 percent of free cash flow, less repayments of long-term debt, subject to a variety of factors, including the strategic plans, market and economic conditions and the discretion of the Company’s board of directors. For the purposes of the Capital Allocation Policy, the Company defines "free cash flow" as net cash provided by operating activities less purchases of property, plant and equipment.
On December 1, 2014, the Company announced the 2014 Share Repurchase Program (the "2014 Share Repurchase Program") pursuant to the Capital Allocation Policy. Under the Company’s 2014 Share Repurchase Program, the Company had the ability to repurchase up to $ 1.0 billion (exclusive of fees, commissions and other expenses) of the Company’s common stock over a period of four years from December 1, 2014, subject to certain contingencies.
The 2014 Share Repurchase Program, which did not require the Company to purchase any particular amount of common stock and was subject to the discretion of the board of directors, expired on November 30, 2018 with approximately $288.2 million remaining unutilized.
The Company repurchased common stock worth approximately $315.0 million and $25.0 million under the 2014 Share Repurchase Program during the years ended December 31, 2018 and December 31, 2017, respectively.
On November 15, 2018, the Company announced the 2018 Share Repurchase Program (the "2018 Share Repurchase Program") pursuant to the Capital Allocation Policy. Under the 2018 Share Repurchase Program, the Company is authorized to repurchase up to $ 1.5 billion of its common shares from December 1, 2018 through December 31, 2022, exclusive of any fees, commissions or other expenses.
The Company may repurchase its common stock from time to time in privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act, or by any combination of such methods or other methods.
The timing of any repurchases and the actual number of shares repurchased will depend on a variety of factors, including the Company’s stock price, corporate and regulatory requirements, restrictions under the Company’s debt obligations and other market and economic conditions. There were $138.9 million in repurchases of the Company's common stock under the 2018 Share Repurchase Program during the year ended December 31, 2019. As of December 31, 2019, the remaining authorized amount under the 2018 Share Repurchase Program was $1,361.1 million.
Information relating to the Company's 2018 and 2014 Share Repurchase Programs is as follows (in millions, except per share data):
(1) None of these shares had been reissued or retired as of December 31, 2019, but may be reissued or retired by the Company at a later date.
| | 2019 | Number of repurchased shares (1) | Aggregate purchase price | Fees, commissions and other expenses | Total cash used for share repurchases | Weighted-average purchase price per share | Available for future purchases at period end |
| | 2019 | 7.8 | $138.9 | 0.1 | $139.0 | $17.89 | $1,361.1 |
| Year ended December 31, | 2018 | 16.8 | $315.0 | 0.3 | $315.3 | $18.78 | $1,500.0 |
| | 2017 | 1.6 | $25.0 | — | $25.0 | $15.35 | $603.2 | | When was "Capital Allocation Policy" announced? | December 1, 2014 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Note 11: Share-Based Compensation
Total share-based compensation expense related to the Company's stock options, RSUs, stock grant awards and ESPP were recorded within the Consolidated Statements of Operations and Comprehensive Income as follows (in millions):
(1) Recognition of related income tax benefits are the result of the adoption of ASU 2016-09 during the first quarter of 2017 through a cumulative effect adjustment of $68.1 million recorded as a credit to retained earnings as of January 1, 2017. Tax benefit is calculated using the federal statutory rate of 21% during the years ended December 31, 2019 and December 31, 2018, and 35% for the year ended December 31, 2017.
At December 31, 2019, total unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested RSUs with service, performance and market conditions was $74.9 million, which is expected to be recognized over a weighted-average period of 1.3 years. The total intrinsic value of stock options exercised during the year ended December 31, 2019 was $3.9 million.
The Company received cash of $1.7 million and $26.2 million from the exercise of stock options and the issuance of shares under the ESPP, respectively. Upon option exercise, vesting of RSUs, stock grant awards, or completion of a purchase under the ESPP, the Company issues new shares of common stock.
| | 2019 | Cost of revenue | Research and development | Selling and marketing | General and administrative | Share-based compensation expense | Related income tax benefits at federal rate (1) | Share-based compensation expense, net of taxes |
| | 2019 | $10.6 | 17.0 | 14.8 | 37.0 | 79.4 | (16.7) | $62.7 |
| Year Ended December 31, | 2018 | $7.0 | 14.3 | 14.1 | 42.9 | 78.3 | (16.4) | $61.9 |
| | 2017 | $6.0 | 12.5 | 11.7 | 39.6 | 69.8 | (24.4) | $45.4 | | How much was the total intrinsic value of stock options exercised during the year ended December 31, 2019? | $3.9 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Note 11: Share-Based Compensation
Total share-based compensation expense related to the Company's stock options, RSUs, stock grant awards and ESPP were recorded within the Consolidated Statements of Operations and Comprehensive Income as follows (in millions):
(1) Recognition of related income tax benefits are the result of the adoption of ASU 2016-09 during the first quarter of 2017 through a cumulative effect adjustment of $68.1 million recorded as a credit to retained earnings as of January 1, 2017. Tax benefit is calculated using the federal statutory rate of 21% during the years ended December 31, 2019 and December 31, 2018, and 35% for the year ended December 31, 2017.
At December 31, 2019, total unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested RSUs with service, performance and market conditions was $74.9 million, which is expected to be recognized over a weighted-average period of 1.3 years. The total intrinsic value of stock options exercised during the year ended December 31, 2019 was $3.9 million.
The Company received cash of $1.7 million and $26.2 million from the exercise of stock options and the issuance of shares under the ESPP, respectively. Upon option exercise, vesting of RSUs, stock grant awards, or completion of a purchase under the ESPP, the Company issues new shares of common stock.
| | 2019 | Cost of revenue | Research and development | Selling and marketing | General and administrative | Share-based compensation expense | Related income tax benefits at federal rate (1) | Share-based compensation expense, net of taxes |
| | 2019 | $10.6 | 17.0 | 14.8 | 37.0 | 79.4 | (16.7) | $62.7 |
| Year Ended December 31, | 2018 | $7.0 | 14.3 | 14.1 | 42.9 | 78.3 | (16.4) | $61.9 |
| | 2017 | $6.0 | 12.5 | 11.7 | 39.6 | 69.8 | (24.4) | $45.4 | | How much cash was recieved from the exercise of stock options and the issuance of shares under the ESPP, respectively? | "$1.7 million", "$26.2 million" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 31. Financial instruments
Financial assets
| | Note | Net trade receivables | Accrued income | Other receivables | Cash and cash equivalents | Total |
| | Note | 18 | 18 | 18 | 19 | |
| 2019 | £m | 24.9 | 28.0 | 0.3 | 5.9 | 59.1 |
| 2018 | £m | 25.4 | 26.7 | 0.1 | 4.3 | 56.5 | | In which years was the amount of total financial assets calculated? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 31. Financial instruments
Financial assets
| | Note | Net trade receivables | Accrued income | Other receivables | Cash and cash equivalents | Total |
| | Note | 18 | 18 | 18 | 19 | |
| 2019 | £m | 24.9 | 28.0 | 0.3 | 5.9 | 59.1 |
| 2018 | £m | 25.4 | 26.7 | 0.1 | 4.3 | 56.5 | | What were the components making up the total financial assets in the table? | "Net trade receivables", "Accrued income", "Other receivables", "Cash and cash equivalents" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Note 15. Stock-Based Compensation
The following table summarizes the components of non-cash stock-based compensation expense (in thousands):
2015 Equity Incentive Plan
We issue stock options pursuant to our 2015 Plan. The 2015 Plan allows for the grant of stock options to employees and for the grant of nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, or RSUs, performance-based stock awards, and other forms of equity compensation to our employees, directors and non-employee directors and consultants.
In June 2015, our board of directors adopted and our stockholders approved our 2015 Plan pursuant to which we initially reserved a total of 4,700,000 shares of common stock for issuance under the 2015 Plan, which included shares of our common stock previously reserved for issuance under our Amended and Restated 2009 Stock Incentive Plan, or the 2009 Plan. The number of shares of common stock reserved for issuance under the 2015 Plan will automatically increase on January 1 each year, for a period of not more than ten years, commencing on January 1, 2016 through January 1, 2024, by 5% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares as may be determined by the board of directors. As a result of the adoption of the 2015 Plan, no further grants may be made under the 2009 Plan. As of December 31, 2019, 6,527,550 shares remained available for future grant under the 2015 Plan.
Stock Options
Stock options under the 2015 Plan have been granted at exercise prices based on the closing price of our common stock on the date of grant. Stock options under the 2009 Plan were granted at exercise prices as determined by the board of directors to be the fair market value of our common stock. Our stock options generally vest over a five-year period and each option, if not exercised or forfeited, expires on the tenth anniversary of the grant date.
Certain stock options granted under the 2015 Plan and previously granted under the 2009 Plan may be exercised before the options have vested. Unvested shares issued as a result of early exercise are subject to repurchase by us upon termination of employment or services at the original exercise price. The proceeds from the early exercise of stock options are initially recorded as a current liability and are reclassified to common stock and additional paid-in capital as the awards vest and our repurchase right lapses. There were 250 and 957 unvested shares of common stock outstanding subject to our right of repurchase as of December 31, 2019 and 2018, respectively. We repurchased 27 and 107 of these unvested shares of common stock related to early exercised stock options in connection with employee terminations during the years ended December 31, 2019 and 2018, respectively. We recorded less than $0.1 million in accounts payable, accrued expenses and other current liabilities on our consolidated balance sheets for the proceeds from the early exercise of the unvested stock options as of December 31, 2019 and 2018.
We account for stock-based compensation options based on the fair value of the award as of the grant date. We recognize stock-based compensation expense using the accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the service inception date to the vesting date for that tranche.
We value our stock options using the Black-Scholes option pricing model, which requires the input of subjective assumptions, including the risk-free interest rate, expected term, expected stock price volatility and dividend yield. The risk-free interest rate assumption is based upon observed interest rates for constant maturity U.S. Treasury securities consistent with the expected term of our stock options. The expected term represents the period of time the stock options are expected to be outstanding and is based on the "simplified method." Under the "simplified method," the expected term of an option is presumed to be the mid-point between the vesting date and the end of the contractual term. We use the "simplified method" due to the lack of sufficient historical exercise data to provide a reasonable basis upon which to otherwise estimate the expected term of the stock options. Beginning in November 2019, the expected volatility for options granted is based on historical volatilities of our stock over the estimated expected term of the stock options. The expected volatility for options granted prior to November 2019 was based on historical volatilities of our stock and publicly traded stock of comparable companies over the estimated expected term of the stock options.
There were 186,500, 219,450 and 252,100 stock options granted during the years ended December 31, 2019, 2018 and 2017, respectively. We declared and paid dividends in June 2015 in anticipation of our IPO, which we closed on July 1, 2015. Subsequent to the IPO, we do not expect to declare or pay dividends on a recurring basis. As such, we assume that the dividend rate is 0%.
| | 2019 | Stock options and assumed options | Restricted stock units | Restricted stock awards | Employee stock purchase plan | Total stock-based compensation expense | Tax benefit from stock-based awards |
| | 2019 | $3,783 | 16,627 | — | 193 | $20,603 | $5,154 |
| Year Ended December 31, | 2018 | $3,511 | 9,770 | 1 | 147 | $13,429 | $7,581 |
| | 2017 | $3,913 | 3,366 | 19 | 115 | $7,413 | $12,719 | | Which years does the table provide information for the components of non-cash stock-based compensation expense for? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Note 15. Stock-Based Compensation
The following table summarizes the components of non-cash stock-based compensation expense (in thousands):
2015 Equity Incentive Plan
We issue stock options pursuant to our 2015 Plan. The 2015 Plan allows for the grant of stock options to employees and for the grant of nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, or RSUs, performance-based stock awards, and other forms of equity compensation to our employees, directors and non-employee directors and consultants.
In June 2015, our board of directors adopted and our stockholders approved our 2015 Plan pursuant to which we initially reserved a total of 4,700,000 shares of common stock for issuance under the 2015 Plan, which included shares of our common stock previously reserved for issuance under our Amended and Restated 2009 Stock Incentive Plan, or the 2009 Plan. The number of shares of common stock reserved for issuance under the 2015 Plan will automatically increase on January 1 each year, for a period of not more than ten years, commencing on January 1, 2016 through January 1, 2024, by 5% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares as may be determined by the board of directors. As a result of the adoption of the 2015 Plan, no further grants may be made under the 2009 Plan. As of December 31, 2019, 6,527,550 shares remained available for future grant under the 2015 Plan.
Stock Options
Stock options under the 2015 Plan have been granted at exercise prices based on the closing price of our common stock on the date of grant. Stock options under the 2009 Plan were granted at exercise prices as determined by the board of directors to be the fair market value of our common stock. Our stock options generally vest over a five-year period and each option, if not exercised or forfeited, expires on the tenth anniversary of the grant date.
Certain stock options granted under the 2015 Plan and previously granted under the 2009 Plan may be exercised before the options have vested. Unvested shares issued as a result of early exercise are subject to repurchase by us upon termination of employment or services at the original exercise price. The proceeds from the early exercise of stock options are initially recorded as a current liability and are reclassified to common stock and additional paid-in capital as the awards vest and our repurchase right lapses. There were 250 and 957 unvested shares of common stock outstanding subject to our right of repurchase as of December 31, 2019 and 2018, respectively. We repurchased 27 and 107 of these unvested shares of common stock related to early exercised stock options in connection with employee terminations during the years ended December 31, 2019 and 2018, respectively. We recorded less than $0.1 million in accounts payable, accrued expenses and other current liabilities on our consolidated balance sheets for the proceeds from the early exercise of the unvested stock options as of December 31, 2019 and 2018.
We account for stock-based compensation options based on the fair value of the award as of the grant date. We recognize stock-based compensation expense using the accelerated attribution method, net of actual forfeitures, in which compensation cost for each vesting tranche in an award is recognized ratably from the service inception date to the vesting date for that tranche.
We value our stock options using the Black-Scholes option pricing model, which requires the input of subjective assumptions, including the risk-free interest rate, expected term, expected stock price volatility and dividend yield. The risk-free interest rate assumption is based upon observed interest rates for constant maturity U.S. Treasury securities consistent with the expected term of our stock options. The expected term represents the period of time the stock options are expected to be outstanding and is based on the "simplified method." Under the "simplified method," the expected term of an option is presumed to be the mid-point between the vesting date and the end of the contractual term. We use the "simplified method" due to the lack of sufficient historical exercise data to provide a reasonable basis upon which to otherwise estimate the expected term of the stock options. Beginning in November 2019, the expected volatility for options granted is based on historical volatilities of our stock over the estimated expected term of the stock options. The expected volatility for options granted prior to November 2019 was based on historical volatilities of our stock and publicly traded stock of comparable companies over the estimated expected term of the stock options.
There were 186,500, 219,450 and 252,100 stock options granted during the years ended December 31, 2019, 2018 and 2017, respectively. We declared and paid dividends in June 2015 in anticipation of our IPO, which we closed on July 1, 2015. Subsequent to the IPO, we do not expect to declare or pay dividends on a recurring basis. As such, we assume that the dividend rate is 0%.
| | 2019 | Stock options and assumed options | Restricted stock units | Restricted stock awards | Employee stock purchase plan | Total stock-based compensation expense | Tax benefit from stock-based awards |
| | 2019 | $3,783 | 16,627 | — | 193 | $20,603 | $5,154 |
| Year Ended December 31, | 2018 | $3,511 | 9,770 | 1 | 147 | $13,429 | $7,581 |
| | 2017 | $3,913 | 3,366 | 19 | 115 | $7,413 | $12,719 | | How many years did Stock options and assumed options exceed $3,000 thousand? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Cash flows
The following table summarizes our cash flow activities in fiscal 2019 compared to fiscal 2018.
Our cash flow activities in fiscal 2018 compared to fiscal 2017 were discussed under Liquidity, Capital Resources and Cash Requirement in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended March 30, 2018.
| | (In millions) | Net cash provided by (used in) | Operating activities | Investing activities | Financing activities | Increase (decrease) in cash and cash equivalents |
| Fiscal Year | 2019 | : | $1,495 | $(241) | $(1,209) | $17 |
| | 2018 | : | $957 | $(21) | $(3,475) | $(2,473) | | What is date of the end of fiscal 2018? | March 30, 2018 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Effective Tax Rate
The items accounting for the difference between income taxes computed at the U.S. federal statutory rate and our effective rate were as follows:
The decrease from the federal statutory rate in fiscal year 2019 is primarily due to a $2.6 billion net income tax benefit related to intangible property transfers, and earnings taxed at lower rates in foreign jurisdictions resulting from producing and distributing our products and services through our foreign regional operations centers in Ireland, Singapore, and Puerto Rico. The increase from the federal statutory rate in fiscal year 2018 is primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, offset in part by earnings taxed at lower rates in foreign jurisdictions. The decrease from the federal statutory rate in fiscal year 2017 is primarily due to earnings taxed at lower rates in foreign jurisdictions. Our foreign regional operating centers in Ireland, Singapore and Puerto Rico, which are taxed at rates lower than the U.S. rate, generated 82%, 87%, and 76% of our foreign income before tax in fiscal years 2019, 2018, and 2017, respectively. Other reconciling items, net consists primarily of tax credits, GILTI, and U.S. state income taxes. In fiscal years 2019, 2018, and 2017, there were no individually significant other reconciling items.
The decrease in our effective tax rate for fiscal year 2019 compared to fiscal year 2018 was primarily due to the net charge related to the enactment of the TCJA in the second quarter of fiscal year 2018, and a $2.6 billion net income tax benefit in the fourth quarter of fiscal year 2019 related to intangible property transfers. The increase in our effective tax rate for fiscal year 2018 compared to fiscal year 2017 was primarily due to the net charge related to the enactment of the TCJA and the realization of tax benefits attributable to previous Phone business losses in fiscal year 2017.
| Year Ended June 30, | Federal statutory rate | Effect of | Foreign earnings taxed at lower rates | Impact of the enactment of the TCJA | Phone business losses | Impact of intangible property transfers | Foreign-derived intangible income deduction | Research and development credit | Excess tax benefits relating to stock-based compensation | Interest, net | Other reconciling items, net | Effective rate |
| 2019 | 21.0% | : | (4.1)% | 0.4% | 0% | (5.9)% | (1.4)% | (1.1)% | (2.2)% | 1.0% | 2.5% | 10.2% |
| 2018 | 28.1% | : | (7.8)% | 37.7% | 0% | 0% | 0% | (1.3)% | (2.5)% | 1.2% | (0.8)% | 54.6% |
| 2017 | 35.0% | : | (11.6)% | 0% | (5.7)% | 0% | 0% | (0.9)% | (2.1)% | 1.4% | (1.3)% | 14.8% | | How many items accounted for the difference between income taxes computed at the US federal statutory rate and the company's effective rate? | "Foreign earnings taxed at lower rates", "Impact of the enactment of the TCJA", "Phone business losses", "Impact of intangible property transfers", "Foreign-derived intangible income deduction", "Research and development credit", "Excess tax benefits relating to stock-based compensation", "Interest, net", "Other reconciling items, net" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: GasLog Ltd. and its Subsidiaries
Notes to the consolidated financial statements (Continued)
For the years ended December 31, 2017, 2018 and 2019
(All amounts expressed in thousands of U.S. Dollars, except share and per share data)
Vessels under construction represent scheduled advance payments to the shipyards as well as certain capitalized expenditures. As of December 31, 2019, the Group has paid to the shipyard $197,637 for the vessels that are under construction and expects to pay the remaining installments as they come due upon each vessel’s keel laying, launching and delivery (Note 23(a)).
The vessels under construction costs as of December 31, 2018 and 2019 are comprised of:
| | 2018 | Progress shipyard installments | Onsite supervision costs | Critical spare parts, equipment and other vessel delivery expenses | Total |
| As of December 31, | 2018 | 152,075 | 5,766 | 1,434 | 159,275 |
| | 2019 | 197,637 | 3,879 | 1,807 | 203,323 | | In which years was the vessels under construction costs recorded for? | "2018", "2019" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 14 Leases
Right-of-use assets
The vast majority of the right-of-use asset value relates to leased property where the Group leases a number of office and warehouse sites in a number of geographical locations. The remaining leases are largely made up of leased motor vehicles, where the Group makes use of leasing cars for sales and service engineers at a number of operating company locations. The average lease term is 4.3 years.
| | £m | Cost | Transition adjustment at 1st January 2019 | Reclassification from long-term prepayments | Additions | Acquisitions | Disposals | Exchange adjustments | At 31st December 2019 | Depreciation | Charged in the year | Disposals | Exchange adjustments | At 31st December 2019 | Net book value | At 31st December 2019 |
| Leased land and buildings | £m | : | 27.2 | 5.1 | 7.2 | 0.8 | (0.2) | (1.5) | 38.6 | : | 7.0 | (0.1) | (0.2) | 6.7 | : | 31.9 |
| Leased plants and machinery | £m | : | 7.0 | – | 4.2 | 0.3 | (0.1) | (0.4) | 11.0 | : | 3.7 | – | (0.1) | 3.6 | : | 7.4 |
| Leased fixtures, fittings, tools and equipment | £m | : | 1.9 | – | 0.3 | – | – | (0.1) | 2.1 | : | 0.6 | – | – | 0.6 | : | 1.5 |
| Total right-of-use assets | £m | : | 36.1 | 5.1 | 11.7 | 1.1 | (0.3) | (2.0) | 51.7 | : | 11.3 | (0.1) | (0.3) | 10.9 | : | 40.8 | | What is the average lease term? | 4.3 years |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 14 Leases
Right-of-use assets
The vast majority of the right-of-use asset value relates to leased property where the Group leases a number of office and warehouse sites in a number of geographical locations. The remaining leases are largely made up of leased motor vehicles, where the Group makes use of leasing cars for sales and service engineers at a number of operating company locations. The average lease term is 4.3 years.
| | £m | Cost | Transition adjustment at 1st January 2019 | Reclassification from long-term prepayments | Additions | Acquisitions | Disposals | Exchange adjustments | At 31st December 2019 | Depreciation | Charged in the year | Disposals | Exchange adjustments | At 31st December 2019 | Net book value | At 31st December 2019 |
| Leased land and buildings | £m | : | 27.2 | 5.1 | 7.2 | 0.8 | (0.2) | (1.5) | 38.6 | : | 7.0 | (0.1) | (0.2) | 6.7 | : | 31.9 |
| Leased plants and machinery | £m | : | 7.0 | – | 4.2 | 0.3 | (0.1) | (0.4) | 11.0 | : | 3.7 | – | (0.1) | 3.6 | : | 7.4 |
| Leased fixtures, fittings, tools and equipment | £m | : | 1.9 | – | 0.3 | – | – | (0.1) | 2.1 | : | 0.6 | – | – | 0.6 | : | 1.5 |
| Total right-of-use assets | £m | : | 36.1 | 5.1 | 11.7 | 1.1 | (0.3) | (2.0) | 51.7 | : | 11.3 | (0.1) | (0.3) | 10.9 | : | 40.8 | | What are the different types of leases making up the right-of-use assets in the table? | "Leased land and buildings", "Leased plants and machinery", "Leased fixtures, fittings, tools and equipment" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: A segment-level summary of the goodwill allocation is presented below.
The recoverable amount of the group’s intangible assets has been assessed based on value-in-use calculations. The value in use is calculated using a discounted cash flow methodology covering a four year period plus terminal value.
Cash flow forecasts
Cash flow forecasts are post-tax and based on the most recent financial projections covering a maximum of five years. Financial projections are based on assumptions that represent management’s best estimates.
Revenue growth rates
Revenue growth rates used are based on management’s latest four-year plan. Four-year growth rates averaged between 8.8% to 12.1% for these CGUs (Board & Systems - Americas 8.8%, Board & Systems - EMEA 12.1% and Parts Analytics and Search 11.8%). Sensitivity testing was performed on these CGUs and a reasonably possible decline in these rates would not cause the carrying value of any of these CGUs to exceed its recoverable amount.
Terminal value
The terminal value calculated after year four is determined using the perpetual growth model, having regard to the weighted average cost of capital (WACC) and terminal growth factor appropriate to each CGU. Terminal growth rates used in the financial projections was 2.0%.
Discount rates
Discount rates used are WACC and include a premium for market risks appropriate to each country in which the CGU operates. WACCs averaged 8.9% (Board & Systems - Americas 9.1%, Board & Systems - EMEA 8.6% and Parts Analytics and Search 9.1%).
Sensitivity Any reasonable change to the above key assumptions would not cause the carrying value of any of the remaining CGU’s to materially exceed its recoverable amount.
Accounting policy for intangible assets
Goodwill
Goodwill arises on the acquisition of a business. Goodwill is not amortised. Instead, goodwill is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Impairment losses on goodwill are taken to profit or loss and are not subsequently reversed.
Intellectual property
Significant costs associated with intellectual property are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 5 to 10 years.
Customer relationships
Customer relationships acquired in a business combination are amortised on a straight-line basis over the period of their expected benefit, being their finite life of 10 to 15 years.
Software intangibles
Software intangibles arise from costs associated with the direct development and implementation on an internal project on new and existing software utilised by the group which demonstrates the technical feasibility of providing future economic benefits and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 2 to 5 years.
Accounting policy for intangible assets
| | 2019 | US$000 | Goodwill | Board & Systems - Americas | Board & Systems - EMEA | Parts Analytics and Search | Total |
| Consolidated | 2019 | US$000 | | 10,672 | 5,383 | 13,444 | 29,499 |
| | 2018 | US$000 | | 8,324 | 5,383 | 13,444 | 27,151 | | What are the segments of Goodwill allocations in the table? | "Board & Systems - Americas", "Board & Systems - EMEA", "Parts Analytics and Search" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: A segment-level summary of the goodwill allocation is presented below.
The recoverable amount of the group’s intangible assets has been assessed based on value-in-use calculations. The value in use is calculated using a discounted cash flow methodology covering a four year period plus terminal value.
Cash flow forecasts
Cash flow forecasts are post-tax and based on the most recent financial projections covering a maximum of five years. Financial projections are based on assumptions that represent management’s best estimates.
Revenue growth rates
Revenue growth rates used are based on management’s latest four-year plan. Four-year growth rates averaged between 8.8% to 12.1% for these CGUs (Board & Systems - Americas 8.8%, Board & Systems - EMEA 12.1% and Parts Analytics and Search 11.8%). Sensitivity testing was performed on these CGUs and a reasonably possible decline in these rates would not cause the carrying value of any of these CGUs to exceed its recoverable amount.
Terminal value
The terminal value calculated after year four is determined using the perpetual growth model, having regard to the weighted average cost of capital (WACC) and terminal growth factor appropriate to each CGU. Terminal growth rates used in the financial projections was 2.0%.
Discount rates
Discount rates used are WACC and include a premium for market risks appropriate to each country in which the CGU operates. WACCs averaged 8.9% (Board & Systems - Americas 9.1%, Board & Systems - EMEA 8.6% and Parts Analytics and Search 9.1%).
Sensitivity Any reasonable change to the above key assumptions would not cause the carrying value of any of the remaining CGU’s to materially exceed its recoverable amount.
Accounting policy for intangible assets
Goodwill
Goodwill arises on the acquisition of a business. Goodwill is not amortised. Instead, goodwill is tested annually for impairment, or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Impairment losses on goodwill are taken to profit or loss and are not subsequently reversed.
Intellectual property
Significant costs associated with intellectual property are deferred and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 5 to 10 years.
Customer relationships
Customer relationships acquired in a business combination are amortised on a straight-line basis over the period of their expected benefit, being their finite life of 10 to 15 years.
Software intangibles
Software intangibles arise from costs associated with the direct development and implementation on an internal project on new and existing software utilised by the group which demonstrates the technical feasibility of providing future economic benefits and amortised on a straight-line basis over the period of their expected benefit, being their finite life of 2 to 5 years.
Accounting policy for intangible assets
| | 2019 | US$000 | Goodwill | Board & Systems - Americas | Board & Systems - EMEA | Parts Analytics and Search | Total |
| Consolidated | 2019 | US$000 | | 10,672 | 5,383 | 13,444 | 29,499 |
| | 2018 | US$000 | | 8,324 | 5,383 | 13,444 | 27,151 | | How many segments in 2019 had a goodwill value of above 5,000 thousand? | "Board & Systems - Americas", "Board & Systems - EMEA", "Parts Analytics and Search" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 20. Geographic Information
The Group’s non-current operating assets by geographic regions are as follows:
Non-current operating assets for this purpose consist of property and equipment, goodwill, intangible assets and other non-current assets.
| | 2019 | (U.S. $ in thousands) | Non-current operating assets | United States | Australia | India | $847,355 | |
| Fiscal Year Ended June 30, | 2019 | (U.S. $ in thousands) | | $819,227 | 18,842 | 9,286 | $847,355 |
| | 2018 | | | $412,112 | 16,730 | — | $428,842 | | What is the total non-current operating assets for fiscal year ended June 30, 2018 and 2019 respectively? | "$428,842", "$847,355" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 20. Geographic Information
The Group’s non-current operating assets by geographic regions are as follows:
Non-current operating assets for this purpose consist of property and equipment, goodwill, intangible assets and other non-current assets.
| | 2019 | (U.S. $ in thousands) | Non-current operating assets | United States | Australia | India | $847,355 | |
| Fiscal Year Ended June 30, | 2019 | (U.S. $ in thousands) | | $819,227 | 18,842 | 9,286 | $847,355 |
| | 2018 | | | $412,112 | 16,730 | — | $428,842 | | In fiscal year ended June 30, 2019, how many geographic regions have non-current operating assets of more than $10,000 thousand? | "United States", "Australia" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Consolidated Financial Results
Operating Expenses
The following table sets forth operating expenses by segment for the periods presented (in millions):
The increase in Operating Expenses was primarily driven by higher net personnel costs, technology-related costs and acquisition-related costs in our Software Solutions segment. The increase in our Data and Analytics segment primarily related to higher net personnel costs and higher data costs related to revenue growth. The decrease in Corporate and Other was primarily driven by lower incentive bonus expense.
| | 2019 | Software Solutions | Data and Analytics | Corporate and Other | Total |
| Year ended December 31, | 2019 | $412.7 | 123.4 | 109.9 | $646.0 |
| | 2018 | $394.8 | 115.0 | 115.6 | $625.4 |
| Variance | $ | $17.9 | 8.4 | (5.7) | $20.6 |
| | % | 5% | 7% | (5)% | 3% | | Which years does the table provide information for the company's operating expenses by segment? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 7 Employees’ information (continued)
Share based payments
Details of share options outstanding under each of the Group’s schemes is set out below:
1 Shares ordinarily exercised immediately on vested date.
2 Relates to non-vested SIP free shares, partnership shares and matching shares granted.
The weighted average exercise prices of the outstanding options and outstanding options exercisable at 31 December 2019 for the Share Option Schemes were 304 pence and 309 pence respectively (2018: 302 pence and 309 pence respectively) and for the Save As You Earn Scheme were 77 pence and 278 respectively (2018: 224 pence and nil respectively).
A Share Option Schemes
Options to subscribe for ordinary shares may be awarded under the intu properties plc Company Share Option Plan and the intu properties plc Non-approved Executive Share Option Scheme.
Such options may not be exercised within three years of grant or before the satisfaction or waiver of any applicable performance conditions and will be forfeited if the employee leaves the Group before their options become capable of exercise, except in certain circumstances. The options will lapse if not exercised within 10 years of the date of grant.
B Performance Share Plan (PSP)
The Company operates a PSP for eligible employees at the discretion of the Remuneration Committee
Awards may be made in the form of nil cost options, a conditional share award or prior to April 2019, a joint share ownership award and fixed-value zero-cost option, and eligible employees may be granted any combination of such awards subject to any individual limits.
The 2020 PSP awards will vest based on (i) 50 per cent of each award – relative Total Shareholder Return vs a bespoke real estate sector peer group (this group being expanded from the very small groups used previously) and (ii) 50 per cent of each award – intu’s Total Property Return vs the MSCI UK Shopping Centre benchmark. This mix of metrics represents a change from the 2019 awards which were based 50 per cent each on relative and absolute TSR targets subject to a Remuneration Committee-operated discretionary assessment of underlying financial performance. It is intended that awards will vest three years following grant (with an additional two year post vesting holding period applying to the net number of shares that vest if the Remuneration Committee considers it appropriate to apply such additional condition).
C Bonus Share Scheme (Bonus Scheme)
Under the Company’s Bonus Scheme, shares may be awarded on a deferred basis as part of a bonus award (Deferred Share Awards).
Deferred Share Awards comprise Restricted Shares and Additional Shares (prior to July 2019). Restricted Shares will vest two or three years after the date of their award and Additional Shares will vest four or five years after the date of award. Vesting is subject, under normal circumstances, to continued employment during the vesting or ‘restricted’ period. There are no further performance conditions applicable to either Restricted Shares or Additional Shares.
Where awarded, the number of Additional Shares would be equal to 50 per cent of the combined total of shares awarded as Restricted Shares and under the Share Incentive Plan (see section D). No Additional Shares were outstanding at 1 January 2014 and no awards of Additional Shares have been made since this time. intu properties
D Share Incentive Plan (SIP)
The Company operates a SIP for all eligible employees, who may receive up to £3,600 worth of shares (Free Shares) as part of their annual bonus. The SIP is an HMRC tax-advantaged scheme.
Any Free Shares awarded under the SIP will be held in trust on behalf of each employee for at least three years following grant, after which time they may be withdrawn, provided the individual employee has remained in employment with the Company. If the Free Shares are held in trust for a further two years, they will qualify for HMRC-approved tax advantages.
As part of the SIP arrangements, the Company also offers eligible employees the opportunity to participate in a Partnership share scheme, under which employees can invest up to £1,800 of pre-tax salary (or, if less, 10 per cent of salary) in any tax year, which will be used to purchase ordinary shares in the Company (Partnership Shares) at the end of a 12-month period. The Group will give each employee one ordinary share (a Matching Share) for every two Partnership Shares purchased by the employee. Matching Shares will be forfeited if the employee leaves the Group within three years of the date of award and will qualify for HMRC-approved tax advantages if they are held in the SIP for five years.
E Save As You Earn Scheme (SAYE)
The Group operates a SAYE under which all eligible UK employees may save up to a maximum of £500 per month for a period of three or five years and use the proceeds at the end of their saving period to purchase shares in the Company. At the start of the saving period, each SAYE participant will be granted an option to purchase such shares at a price usually determined as the average mid-market closing share price of an ordinary share in the Company over the three consecutive dealing days preceding the SAYE invitation date, discounted by up to 20 per cent. Options may normally be exercised within six months following the end of the savings period.
F Joint Share Ownership Plan (JSOP)
Eligible employees were invited to participate in the JSOP which formed part of the intu properties plc Unapproved Share Option Scheme (which was replaced by the Non-approved Executive Share Option Scheme upon its expiry in April 2018) and the PSP. Under the JSOP, shares are held jointly by the employee and the employee share ownership plan trustee with any increases in the share price and dividends paid on those shares being allocated between the joint owners in accordance with the terms of the scheme.
Conditions under which JSOP interests may be exercised (including applicable performance conditions) are the same as those for the Non-approved Executive Share Option Scheme as outlined in section A.
| | Share Option Schemes | Performance Share Plan1 | Bonus Share Scheme | Share Incentive Plan2 | Save As You Earn Scheme | Joint Share Ownership Plan |
| Note | A | B | C | D | E | F |
| Outstanding 1 January 2019 | 7,938,601 | 7,008,260 | 1,827,366 | 243,127 | 219,136 | 4,345,305 |
| Granted during the year | – | 3,734,410 | 556,840 | 88,027 | 448,368 | – |
| Exercised during the year | – | – | (996,503)1 | (41,116)1 | – | – |
| Expired/forfeited during the year | (801,528) | (2,228,278) | (16,632) | (80,736) | (121,172) | (1,382,972) |
| Outstanding 31 December 2019 | 7,137,073 | 8,514,392 | 1,371,071 | 209,302 | 546,332 | 2,962,333 |
| Exercisable 31 December 2019 | 5,687,073 | n/a | n/a | n/a | 60,443 | 2,962,333 | | What is the weighted average exercise prices of the outstanding options at 31 December 2019 for the Share Option Schemes? | 304 pence |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Recently Adopted Accounting Pronouncements
On April 1, 2018, the Company adopted ASU 2014-09-Revenue from Contracts with Customers (ASC 606) and all related amendments (“New Revenue Standard”) using the modified retrospective method. The Company has applied the new revenue standard to all contracts that were entered into after adoption and to all contracts that were open as of the initial date of adoption. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of the new standard impacts the Company's net sales on an ongoing basis depending on the relative amount of revenue sold through its distributors, the change in inventory held by its distributors, and the changes in price concessions granted to its distributors. Previously, the Company deferred revenue and cost of sales on shipments to distributors until the distributor sold the product to their end customer. As required by the new revenue standard, the Company no longer defers revenue and cost of sales, but rather, estimates the effects of returns and allowances provided to distributors and records revenue at the time of sale to the distributor. Sales to non-distributor customers, under both the previous and new revenue standards, are generally recognized upon the Company’s shipment of the product. The cumulative effect of the changes made to the consolidated April 1, 2018 balance sheet for the adoption of the new revenue standard is summarized in the table of opening balance sheet adjustments below. In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on the consolidated income statement and balance sheet for the period ended March 31, 2019 was as follows (in millions):
The significant changes in the financial statements noted in the table above are primarily due to the transition from sellthrough revenue recognition to sell-in revenue recognition as required by the New Revenue Standard, which eliminated the balance of deferred income on shipments to distributors, significantly reduced accounts receivable, and significantly increased retained earnings. Prior to the acquisition of Microsemi, Microsemi already recognized revenue on a sell-in basis, so the impact of the adoption of the New Revenue Standard was primarily driven by Microchip's historical business excluding Microsemi.
| | Income Statement | Net sales | Cost of sales | Gross profit | Income before income taxes | Income tax (benefit) provision | Net income from continuing operations |
| | As reported | $5,349.5 | $2,418.2 | $2,931.3 | $204.5 | $(151.4) | $355.9 |
| For the year ended March 31, 2019 | Balances without adoption of New Revenue Standard | $5,380.1 | $2,434.0 | $2,946.1 | $219.3 | $(149.0) | $368.3 |
| | Effect of Change Higher / (Lower) | $(30.6) | $(15.8) | $(14.8) | $(14.8) | $(2.4) | $(12.4) | | Which reported amounts exceeded $3,000 million? | Net sales |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 28 SHARE BASED COMPENSATION PLANS
The compensation cost recognised with respect to all outstanding plans and by grant of shares, which are all equity settled instruments, is as follows:
(*) includes of 1,305,399 options granted towards Share Plan 2015 during twelve months ended March 31, 2019 at an average exercise price of $14.86 per share and average grant date fair value $2.6 per share.
(**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share. (**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share.
(***) includes 1,400,000 shares granted twelve months ended March 31, 2019 to management personnel at grant date fair value $10.08 per share.
Joint Stock Ownership Plan (JSOP)
In April 2012, the Company established a controlled trust called the Eros International Plc Employee Benefit Trust (“JSOP Trust”). The JSOP Trust purchased 2,000,164 shares of the Company out of funds borrowed from the Company and repayable on demand. The Company’s Board, Nomination and Remuneration Committee recommends to the JSOP Trust certain employees, officers and key management personnel, to whom the JSOP Trust will be required to grant shares from its holdings at nominal price. Such shares are then held by the JSOP Trust and the scheme is referred to as the “JSOP Plan.” The shares held by the JSOP Trust are reported as a reduction in stockholders’ equity and termed as ‘JSOP reserves’.
| | 2019 | | IPO India Plan | JSOP Plan | Option award scheme 2012 | 2014 Share Plan | 2015 Share Plan(*) | Other share option awards(**) | Management scheme (staff share grant) (***) | $21,561 | |
| | 2019 | | $1,198 | — | — | 47 | 3,059 | 5,346 | 11,911 | $21,561 |
| Year ended March 31 | 2018 | (in thousands) | $1,572 | 615 | 197 | (22) | 100 | 7,283 | 8,173 | $17,918 |
| | 2017 | | $2,140 | 3,622 | 699 | 1,427 | 328 | 4,405 | 10,850 | $23,471 | | What are the fiscal years included in the table? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 28 SHARE BASED COMPENSATION PLANS
The compensation cost recognised with respect to all outstanding plans and by grant of shares, which are all equity settled instruments, is as follows:
(*) includes of 1,305,399 options granted towards Share Plan 2015 during twelve months ended March 31, 2019 at an average exercise price of $14.86 per share and average grant date fair value $2.6 per share.
(**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share. (**) includes Restricted Share Unit (RSU) and Other share option plans. In respect of 211,567 units/options granted towards RSU during twelve months ended March 31, 2019, grant date fair value approximates intrinsic value $10.48 per share.
(***) includes 1,400,000 shares granted twelve months ended March 31, 2019 to management personnel at grant date fair value $10.08 per share.
Joint Stock Ownership Plan (JSOP)
In April 2012, the Company established a controlled trust called the Eros International Plc Employee Benefit Trust (“JSOP Trust”). The JSOP Trust purchased 2,000,164 shares of the Company out of funds borrowed from the Company and repayable on demand. The Company’s Board, Nomination and Remuneration Committee recommends to the JSOP Trust certain employees, officers and key management personnel, to whom the JSOP Trust will be required to grant shares from its holdings at nominal price. Such shares are then held by the JSOP Trust and the scheme is referred to as the “JSOP Plan.” The shares held by the JSOP Trust are reported as a reduction in stockholders’ equity and termed as ‘JSOP reserves’.
| | 2019 | | IPO India Plan | JSOP Plan | Option award scheme 2012 | 2014 Share Plan | 2015 Share Plan(*) | Other share option awards(**) | Management scheme (staff share grant) (***) | $21,561 | |
| | 2019 | | $1,198 | — | — | 47 | 3,059 | 5,346 | 11,911 | $21,561 |
| Year ended March 31 | 2018 | (in thousands) | $1,572 | 615 | 197 | (22) | 100 | 7,283 | 8,173 | $17,918 |
| | 2017 | | $2,140 | 3,622 | 699 | 1,427 | 328 | 4,405 | 10,850 | $23,471 | | How many fiscal years had IPO India Plan above $2,000 thousand? | 2017 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts)
The fair value of the Company’s qualified pension plan assets by category for the years ended December 31, are as follows:
At December 31, 2019 our plan’s assets of $14.9 million were invested in five separate funds including a multiasset fund (32.4%), a diversified growth fund (32.6%), an index-linked gilt (13.0%), corporate bonds (14.0%), and insurance contracts (7%). The asset and growth funds aim to generate an ‘equity-like’ return over an economic cycle with significantly reduced volatility relative to equity markets and have scope to use a diverse range of asset classes, including equities, bonds, cash and alternatives, e.g. property, infrastructure, high yield bonds, floating rate debt, private, equity, hedge funds and currency. The bond fund and gilt fund are invested in index-linked gilts and corporate bonds. These investments are intended to provide a degree of protection against changes in the value of our plan’s liabilities related to changes in long-term expectations for interest rates and inflation expectations.
| | Level 1 | Multi-Asset Fund | Diversified Growth Fund | Index-Linked Gilts | Corporate Bonds | Insurance Contracts | Cash | Total | | Level 1 | Multi-Asset Fund | Diversified Growth Fund | Index-Linked Gilts | Corporate Bonds | Insurance Contracts | Cash | Total |
| | Level 1 | $ — | — | — | — | — | 154 | $154 | | Level 1 | $ — | — | — | — | — | 53 | $53 |
| December 31, 2019 | Level 2 | $4,825 | 4,855 | 1,934 | 2,090 | — | — | $13,704 | December 31, 2018 | Level 2 | $4,570 | 4,650 | 2,044 | 2,044 | — | — | $13,308 |
| | Level 3 | $ — | — | — | — | 1,045 | — | $1,045 | | Level 3 | $— | — | — | — | 72 | — | $72 |
| | Total | $ 4,825 | 4,855 | 1,934 | 2,090 | 1,045 | 154 | $14,903 | | Total | $4,570 | 4,650 | 2,044 | 2,044 | 72 | 53 | $13,433 | | What were the funds that the company invested in in 2019? | "multi-asset fund", "diversified growth fund", "index-linked gilt", "corporate bonds", "insurance contracts" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Contractual Obligations and Contingent Liabilities and Commitments
Our principal commitments consist primarily of obligations under operating and financing leases, which include among others, certain leases of our offices, colocations and servers as well as contractual commitment related network infrastructure and data center operations. The following table summarizes our commitments to settle contractual obligations in cash as of December 31, 2019:
(1) Finance leases are related to servers and network infrastructure and our data center operations.
As of December 31, 2019, we had severance agreements with certain employees which would require us to pay up to approximately $6.4 million if all such employees were terminated from employment with our Company following a triggering event (e.g., change of control) as defined in the severance agreements.
| | (In thousands) | Operating leases, including imputed interest | Finance leases, including imputed interest (1) | Total contractual obligations |
| Payments Due by Year Ending December 31, 2020 | Total | 12,807 | 2,165 | $ 14,972 |
| | Year 1 (1) | 3,519 | 1,423 | $ 4,942 |
| | Years 2 & 3 | 5,102 | 736 | $ 5,838 |
| | Years 4 & 5 | 4,186 | 6 | $ 4,192 |
| | Beyond 5 Years | — | — | $ — | | What was the total payments due by year ending december 31, 2020 for operating leases, including imputed interest and for Finance leases, including imputed interest, respectively? | "12,807", "2,165" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Contractual Obligations and Contingent Liabilities and Commitments
Our principal commitments consist primarily of obligations under operating and financing leases, which include among others, certain leases of our offices, colocations and servers as well as contractual commitment related network infrastructure and data center operations. The following table summarizes our commitments to settle contractual obligations in cash as of December 31, 2019:
(1) Finance leases are related to servers and network infrastructure and our data center operations.
As of December 31, 2019, we had severance agreements with certain employees which would require us to pay up to approximately $6.4 million if all such employees were terminated from employment with our Company following a triggering event (e.g., change of control) as defined in the severance agreements.
| | (In thousands) | Operating leases, including imputed interest | Finance leases, including imputed interest (1) | Total contractual obligations |
| Payments Due by Year Ending December 31, 2020 | Total | 12,807 | 2,165 | $ 14,972 |
| | Year 1 (1) | 3,519 | 1,423 | $ 4,942 |
| | Years 2 & 3 | 5,102 | 736 | $ 5,838 |
| | Years 4 & 5 | 4,186 | 6 | $ 4,192 |
| | Beyond 5 Years | — | — | $ — | | What are the components that are related to finance leases? | "servers and network infrastructure", "data center operations." |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Contractual Obligations and Contingent Liabilities and Commitments
Our principal commitments consist primarily of obligations under operating and financing leases, which include among others, certain leases of our offices, colocations and servers as well as contractual commitment related network infrastructure and data center operations. The following table summarizes our commitments to settle contractual obligations in cash as of December 31, 2019:
(1) Finance leases are related to servers and network infrastructure and our data center operations.
As of December 31, 2019, we had severance agreements with certain employees which would require us to pay up to approximately $6.4 million if all such employees were terminated from employment with our Company following a triggering event (e.g., change of control) as defined in the severance agreements.
| | (In thousands) | Operating leases, including imputed interest | Finance leases, including imputed interest (1) | Total contractual obligations |
| Payments Due by Year Ending December 31, 2020 | Total | 12,807 | 2,165 | $ 14,972 |
| | Year 1 (1) | 3,519 | 1,423 | $ 4,942 |
| | Years 2 & 3 | 5,102 | 736 | $ 5,838 |
| | Years 4 & 5 | 4,186 | 6 | $ 4,192 |
| | Beyond 5 Years | — | — | $ — | | How much would the company have to pay up to as defined in the severance agreements as of December 31, 2019 following a triggering event in the company? | approximately $6.4 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Sales and Distribution
We maintain a strong local presence in each of the geographic regions in which we operate. Our net sales by geographic region(1) as a percentage of our total net sales were as follows:
(1) Net sales to external customers are attributed to individual countries based on the legal entity that records the sale.
We sell our products into approximately 150 countries primarily through direct selling efforts to manufacturers. In fiscal 2019, our direct sales represented approximately 80% of total net sales. We also sell our products indirectly via third-party distributors.
We maintain distribution centers around the world. Products are generally delivered to the distribution centers by our manufacturing facilities and then subsequently delivered to the customer. In some instances, however, products are delivered directly from our manufacturing facility to the customer. Our global coverage positions us near our customers’ locations and allows us to assist them in consolidating their supply base and lowering their production costs. We contract with a wide range of transport providers to deliver our products globally via road, rail, sea, and air. We believe our balanced sales distribution lowers our exposure to any particular geography and improves our financial profile.
| | 2019 | Europe/Middle East/Africa (“EMEA”) | Asia–Pacific | Americas | Total |
| | 2019 | 36 % | 33 | 31 | 100 % |
| Fiscal | 2018 | 38 % | 34 | 28 | 100 % |
| | 2017 | 36 % | 35 | 29 | 100 % | | What are the net sales by geographic region in the table presented as a percentage of? | total net sales |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Sales and Distribution
We maintain a strong local presence in each of the geographic regions in which we operate. Our net sales by geographic region(1) as a percentage of our total net sales were as follows:
(1) Net sales to external customers are attributed to individual countries based on the legal entity that records the sale.
We sell our products into approximately 150 countries primarily through direct selling efforts to manufacturers. In fiscal 2019, our direct sales represented approximately 80% of total net sales. We also sell our products indirectly via third-party distributors.
We maintain distribution centers around the world. Products are generally delivered to the distribution centers by our manufacturing facilities and then subsequently delivered to the customer. In some instances, however, products are delivered directly from our manufacturing facility to the customer. Our global coverage positions us near our customers’ locations and allows us to assist them in consolidating their supply base and lowering their production costs. We contract with a wide range of transport providers to deliver our products globally via road, rail, sea, and air. We believe our balanced sales distribution lowers our exposure to any particular geography and improves our financial profile.
| | 2019 | Europe/Middle East/Africa (“EMEA”) | Asia–Pacific | Americas | Total |
| | 2019 | 36 % | 33 | 31 | 100 % |
| Fiscal | 2018 | 38 % | 34 | 28 | 100 % |
| | 2017 | 36 % | 35 | 29 | 100 % | | Which are the geographic regions in which the company operates in? | "Europe/Middle East/Africa (“EMEA”)", "Asia–Pacific", "Americas" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Stock-Based Compensation
The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows: The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
The total unrecognized compensation cost related to performance-based restricted stock units as of December 31, 2019 was $3.6 million, and the weighted average period over which these equity awards are expected to vest is 1.6 years. The total unrecognized compensation cost related to unvested stock options as of December 31, 2019 was $2.0 million, and the weighted average period over which these equity awards are expected to vest is 2.30 years.
| | 2019 | | Cost of net revenue | Research and development | Selling, general and administrative | Restructuring expense | $32,060 | |
| | 2019 | | $577 | 16,545 | 14,938 | — | $32,060 |
| Years Ended December 31, | 2018 | (in thousands) | $489 | 17,953 | 13,279 | — | $31,721 |
| | 2017 | | $332 | 16,190 | 11,016 | 5,130 | $32,668 | | What was the respective Selling, general and administrative expense in 2019, 2018 and 2017? | "14,938", "13,279", "11,016" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Stock-Based Compensation
The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows: The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
The total unrecognized compensation cost related to performance-based restricted stock units as of December 31, 2019 was $3.6 million, and the weighted average period over which these equity awards are expected to vest is 1.6 years. The total unrecognized compensation cost related to unvested stock options as of December 31, 2019 was $2.0 million, and the weighted average period over which these equity awards are expected to vest is 2.30 years.
| | 2019 | | Cost of net revenue | Research and development | Selling, general and administrative | Restructuring expense | $32,060 | |
| | 2019 | | $577 | 16,545 | 14,938 | — | $32,060 |
| Years Ended December 31, | 2018 | (in thousands) | $489 | 17,953 | 13,279 | — | $31,721 |
| | 2017 | | $332 | 16,190 | 11,016 | 5,130 | $32,668 | | What was the respective research and development expense in 2019, 2018 and 2017? | "16,545", "17,953", "16,190" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Stock-Based Compensation
The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows: The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
The total unrecognized compensation cost related to performance-based restricted stock units as of December 31, 2019 was $3.6 million, and the weighted average period over which these equity awards are expected to vest is 1.6 years. The total unrecognized compensation cost related to unvested stock options as of December 31, 2019 was $2.0 million, and the weighted average period over which these equity awards are expected to vest is 2.30 years.
| | 2019 | | Cost of net revenue | Research and development | Selling, general and administrative | Restructuring expense | $32,060 | |
| | 2019 | | $577 | 16,545 | 14,938 | — | $32,060 |
| Years Ended December 31, | 2018 | (in thousands) | $489 | 17,953 | 13,279 | — | $31,721 |
| | 2017 | | $332 | 16,190 | 11,016 | 5,130 | $32,668 | | What was the respective Cost of net revenue in 2019, 2018 and 2017? | "$577", "$489", "$332" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Stock-Based Compensation
The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows: The Company recognizes stock-based compensation expense in the consolidated statements of operations, based on the department to which the related employee reports, as follows:
The total unrecognized compensation cost related to performance-based restricted stock units as of December 31, 2019 was $3.6 million, and the weighted average period over which these equity awards are expected to vest is 1.6 years. The total unrecognized compensation cost related to unvested stock options as of December 31, 2019 was $2.0 million, and the weighted average period over which these equity awards are expected to vest is 2.30 years.
| | 2019 | | Cost of net revenue | Research and development | Selling, general and administrative | Restructuring expense | $32,060 | |
| | 2019 | | $577 | 16,545 | 14,938 | — | $32,060 |
| Years Ended December 31, | 2018 | (in thousands) | $489 | 17,953 | 13,279 | — | $31,721 |
| | 2017 | | $332 | 16,190 | 11,016 | 5,130 | $32,668 | | In which year was Restructuring expense 0 thousands? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: NantHealth, Inc
Consolidated Statements of Cash Flows (Continued)
(Dollars in thousands)
(1) Cash and cash equivalents included restricted cash of $1,136, $1,136, and $350 at December 31, 2019, 2018, and 2017 included in other assets, respectively. Restricted cash consists of funds that are contractually restricted as to usage or withdrawal related to the Company's security deposits in the form of standby letters of credit for leased facilities. No amounts have been drawn upon the letters of credit as of December 31, 2019.
The accompanying notes are an integral part of these Consolidated Financial Statements.
| Year Ended December 31, | 2019 | Supplemental disclosure of cash flow information | Income taxes paid | Interest paid | Interest received | Noncash investing and financing activities | Purchases of property and equipment (including internal use software) | Assignment of NantHealth Labs (see Note 20) |
| | 2019 | | $318 | $5,909 | — | | 1,068 | — |
| | 2018 | | $15 | $5,885 | 13 | | 529 | 8,956 | | What are the respective restricted cash included in the cash and cash equivalents in 2019 and 2017 respectively? | "$1,136", "$350" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: NantHealth, Inc
Consolidated Statements of Cash Flows (Continued)
(Dollars in thousands)
(1) Cash and cash equivalents included restricted cash of $1,136, $1,136, and $350 at December 31, 2019, 2018, and 2017 included in other assets, respectively. Restricted cash consists of funds that are contractually restricted as to usage or withdrawal related to the Company's security deposits in the form of standby letters of credit for leased facilities. No amounts have been drawn upon the letters of credit as of December 31, 2019.
The accompanying notes are an integral part of these Consolidated Financial Statements.
| Year Ended December 31, | 2019 | Supplemental disclosure of cash flow information | Income taxes paid | Interest paid | Interest received | Noncash investing and financing activities | Purchases of property and equipment (including internal use software) | Assignment of NantHealth Labs (see Note 20) |
| | 2019 | | $318 | $5,909 | — | | 1,068 | — |
| | 2018 | | $15 | $5,885 | 13 | | 529 | 8,956 | | What are the respective restricted cash included in the cash and cash equivalents in 2018 and 2017 respectively? | "$1,136", "$350" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: NantHealth, Inc
Consolidated Statements of Cash Flows (Continued)
(Dollars in thousands)
(1) Cash and cash equivalents included restricted cash of $1,136, $1,136, and $350 at December 31, 2019, 2018, and 2017 included in other assets, respectively. Restricted cash consists of funds that are contractually restricted as to usage or withdrawal related to the Company's security deposits in the form of standby letters of credit for leased facilities. No amounts have been drawn upon the letters of credit as of December 31, 2019.
The accompanying notes are an integral part of these Consolidated Financial Statements.
| Year Ended December 31, | 2019 | Supplemental disclosure of cash flow information | Income taxes paid | Interest paid | Interest received | Noncash investing and financing activities | Purchases of property and equipment (including internal use software) | Assignment of NantHealth Labs (see Note 20) |
| | 2019 | | $318 | $5,909 | — | | 1,068 | — |
| | 2018 | | $15 | $5,885 | 13 | | 529 | 8,956 | | What are the respective income taxes paid in 2018 and 2019? | "$15", "$318" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Adjusted EBITDA Non-GAAP Reconciliation
(UNAUDITED)
($ in millions)
(1) Refer to Non-GAAP Integration and Transformation Costs and Special Items table for details of the integration and transformation costs and special items included above.
| | 2019 | Net income (loss) | Income tax expense | Total other expense, net | Depreciation and amortization expense | Share-based compensation expenses | Goodwill impairment | Adjusted EBITDA | Exclude | Exclude | Exclude | Adjusted EBITDA excluding integration and transformation costs and special items | Total revenue | Adjusted EBITDA Margin | Adjusted EBITDA Margin, excluding integration and transformation costs and special items |
| | 2019 | $(5,269) | 503 | 2,040 | 4,829 | 162 | 6,506 | 8,771 | transaction related expenses: 0 | integration and transformation costs(1): 234 | special items(1): 65 | $9,070 | $22,401 | 39.2% | 40.5% |
| | 2018 | (1,733) | 170 | 2,133 | 5,120 | 186 | 2,726 | 8,602 | transaction related expenses: 0 | integration and transformation costs(1): 378 | special items(1): 60 | 9,040 | 23,443 | 36.7% | 38.6% |
| Pro Forma | 2017 | 1,508 | (770) | 2,147 | 5,125 | 238 | 0 | 8,248 | transaction related expenses: 192 | integration and transformation costs(1): 164 | special items(1): 82 | 8,686 | 24,128 | 34.2% | 36.0% | | Which items are excluded from the Adjusted EBITDA? | "transaction related expenses", "integration and transformation costs", "special items" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Adjusted EBITDA Non-GAAP Reconciliation
(UNAUDITED)
($ in millions)
(1) Refer to Non-GAAP Integration and Transformation Costs and Special Items table for details of the integration and transformation costs and special items included above.
| | 2019 | Net income (loss) | Income tax expense | Total other expense, net | Depreciation and amortization expense | Share-based compensation expenses | Goodwill impairment | Adjusted EBITDA | Exclude | Exclude | Exclude | Adjusted EBITDA excluding integration and transformation costs and special items | Total revenue | Adjusted EBITDA Margin | Adjusted EBITDA Margin, excluding integration and transformation costs and special items |
| | 2019 | $(5,269) | 503 | 2,040 | 4,829 | 162 | 6,506 | 8,771 | transaction related expenses: 0 | integration and transformation costs(1): 234 | special items(1): 65 | $9,070 | $22,401 | 39.2% | 40.5% |
| | 2018 | (1,733) | 170 | 2,133 | 5,120 | 186 | 2,726 | 8,602 | transaction related expenses: 0 | integration and transformation costs(1): 378 | special items(1): 60 | 9,040 | 23,443 | 36.7% | 38.6% |
| Pro Forma | 2017 | 1,508 | (770) | 2,147 | 5,125 | 238 | 0 | 8,248 | transaction related expenses: 192 | integration and transformation costs(1): 164 | special items(1): 82 | 8,686 | 24,128 | 34.2% | 36.0% | | How many items are excluded from the Adjusted EBITDA? | "transaction related expenses", "integration and transformation costs", "special items" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Liquidity and Capital Resources
Our principal sources of liquidity are cash and cash equivalents, investments and accounts receivable. The following table shows net cash provided by operating activities, net cash used in investing activities, and net cash provided by (used in) financing activities for the years ended March 31, 2019, 2018 and 2017:
In November 2015, we raised net proceeds of $68.3 million in our initial public offering after deducting underwriting discounts and commissions and offering expenses paid by us. In the years ended March 31, 2019, 2018 and 2017, we incurred operating losses of $1.2 million, $7.0 million and $10.4 million, respectively. While we expect to generate an operating loss in the year ending March 31, 2020, we expect to continue to generate positive cash flows from operating activities.
In the year ending March 31, 2020, we plan to continue to invest in the development and expansion of our Mime | OS™ platform to improve on our existing solutions in order to provide more capabilities to our customers. Investments in capital expenditures in the year ended March 31, 2019 were $28.8 million of which $25.8 million related to the expansion of our grid architecture.
We expect fiscal year 2020 capital expenditures to increase significantly as we expect to incur one-time costs related to the build out and expansion of facilities in the U.K. and other locations and additional data center expansion primarily in the U.S.
As of March 31, 2019 and 2018, we had cash, cash equivalents and investments of $173.5 million and $137.2 million, respectively. Based on our current operating plan, we believe that our current cash and cash equivalents, investments and operating cash flows will be sufficient to fund our operations for at least the next twelve months. Our future capital requirements may vary materially from those planned and will depend on certain factors, such as our growth and our operating results.
If we require additional capital resources to grow our business or to acquire complementary technologies and businesses in the future, we may seek to sell additional equity or raise funds through debt financing or other sources. We may also seek to invest in or acquire complement ary businesses, applications or technologies, any of which could also require us to seek additional equity or debt financing.
We cannot provide assurance that additional financing will be available at all or on terms favorable to us. We had no material commitments for capital expenditures as of March 31, 2019 or 2018.
| | 2019 | | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
| | 2019 | | $66,235 | (121,324) | 116,985 |
| Year ended March 31, | 2018 | (in thousands) | $46,412 | (35,019) | 13,156 |
| | 2017 | | $32,514 | (84,615) | (332) | | What was the net proceeds raised in 2015? | $68.3 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Liquidity and Capital Resources
Our principal sources of liquidity are cash and cash equivalents, investments and accounts receivable. The following table shows net cash provided by operating activities, net cash used in investing activities, and net cash provided by (used in) financing activities for the years ended March 31, 2019, 2018 and 2017:
In November 2015, we raised net proceeds of $68.3 million in our initial public offering after deducting underwriting discounts and commissions and offering expenses paid by us. In the years ended March 31, 2019, 2018 and 2017, we incurred operating losses of $1.2 million, $7.0 million and $10.4 million, respectively. While we expect to generate an operating loss in the year ending March 31, 2020, we expect to continue to generate positive cash flows from operating activities.
In the year ending March 31, 2020, we plan to continue to invest in the development and expansion of our Mime | OS™ platform to improve on our existing solutions in order to provide more capabilities to our customers. Investments in capital expenditures in the year ended March 31, 2019 were $28.8 million of which $25.8 million related to the expansion of our grid architecture.
We expect fiscal year 2020 capital expenditures to increase significantly as we expect to incur one-time costs related to the build out and expansion of facilities in the U.K. and other locations and additional data center expansion primarily in the U.S.
As of March 31, 2019 and 2018, we had cash, cash equivalents and investments of $173.5 million and $137.2 million, respectively. Based on our current operating plan, we believe that our current cash and cash equivalents, investments and operating cash flows will be sufficient to fund our operations for at least the next twelve months. Our future capital requirements may vary materially from those planned and will depend on certain factors, such as our growth and our operating results.
If we require additional capital resources to grow our business or to acquire complementary technologies and businesses in the future, we may seek to sell additional equity or raise funds through debt financing or other sources. We may also seek to invest in or acquire complement ary businesses, applications or technologies, any of which could also require us to seek additional equity or debt financing.
We cannot provide assurance that additional financing will be available at all or on terms favorable to us. We had no material commitments for capital expenditures as of March 31, 2019 or 2018.
| | 2019 | | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
| | 2019 | | $66,235 | (121,324) | 116,985 |
| Year ended March 31, | 2018 | (in thousands) | $46,412 | (35,019) | 13,156 |
| | 2017 | | $32,514 | (84,615) | (332) | | What was the Net cash provided by operating activities in 2019, 2018 and 2017 respectively? | "$66,235", "$46,412", "$32,514" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Liquidity and Capital Resources
Our principal sources of liquidity are cash and cash equivalents, investments and accounts receivable. The following table shows net cash provided by operating activities, net cash used in investing activities, and net cash provided by (used in) financing activities for the years ended March 31, 2019, 2018 and 2017:
In November 2015, we raised net proceeds of $68.3 million in our initial public offering after deducting underwriting discounts and commissions and offering expenses paid by us. In the years ended March 31, 2019, 2018 and 2017, we incurred operating losses of $1.2 million, $7.0 million and $10.4 million, respectively. While we expect to generate an operating loss in the year ending March 31, 2020, we expect to continue to generate positive cash flows from operating activities.
In the year ending March 31, 2020, we plan to continue to invest in the development and expansion of our Mime | OS™ platform to improve on our existing solutions in order to provide more capabilities to our customers. Investments in capital expenditures in the year ended March 31, 2019 were $28.8 million of which $25.8 million related to the expansion of our grid architecture.
We expect fiscal year 2020 capital expenditures to increase significantly as we expect to incur one-time costs related to the build out and expansion of facilities in the U.K. and other locations and additional data center expansion primarily in the U.S.
As of March 31, 2019 and 2018, we had cash, cash equivalents and investments of $173.5 million and $137.2 million, respectively. Based on our current operating plan, we believe that our current cash and cash equivalents, investments and operating cash flows will be sufficient to fund our operations for at least the next twelve months. Our future capital requirements may vary materially from those planned and will depend on certain factors, such as our growth and our operating results.
If we require additional capital resources to grow our business or to acquire complementary technologies and businesses in the future, we may seek to sell additional equity or raise funds through debt financing or other sources. We may also seek to invest in or acquire complement ary businesses, applications or technologies, any of which could also require us to seek additional equity or debt financing.
We cannot provide assurance that additional financing will be available at all or on terms favorable to us. We had no material commitments for capital expenditures as of March 31, 2019 or 2018.
| | 2019 | | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
| | 2019 | | $66,235 | (121,324) | 116,985 |
| Year ended March 31, | 2018 | (in thousands) | $46,412 | (35,019) | 13,156 |
| | 2017 | | $32,514 | (84,615) | (332) | | In which year was Net cash provided by (used in) financing activities less than 25,000 thousands? | "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Research and Development
Research and development expenses increased $24.2 million, or 31%, in 2019 as compared to 2018. The increase was principally due to the 2018 Reallocation of headcount from sales and marketing to research and development, as well as investments to maintain and improve the functionality of our products. As a result, we incurred increased employee-related costs of $16.3 million and increased overhead costs of $3.4 million.
Research and development expenses increased $15.0 million, or 24%, in 2018 as compared to 2017. The increase was principally due to the 2018 Reallocation of headcount from sales and marketing to research and development, as well as investments to maintain and improve the functionality of our products. As a result, we incurred increased employee-related costs of $12.1 million.
| | 2019 | | Research and development | Percent of revenue |
| | 2019 | | $101,151 | 17.5% |
| Year Ended December 31, | 2018 | (dollars in thousands) | $76,981 | 14.3% |
| | 2017 | | $61,975 | 12.9% | | How much were employee-related costs between 2017 and 2018? | $12.1 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Disaggregation of Revenue
We generate revenue from the sale of services and sale of software for end-user software products provided through direct customer downloads and through the sale of these end-user software products via partners. The following table depicts the disaggregation of revenue (in thousands) according to revenue type and is consistent with how we evaluate our financial performance:
Revenue from Contracts with Customers:
| | 2019 | Services | Software and other | Total revenue |
| Twelve months ended December 31, | 2019 | $59,545 | 3,788 | $63,333 |
| | 2018 | $64,476 | 5,073 | $69,549 | | In which years was the revenue from contracts with customers recorded for? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: The following is a roll forward of accrued restructuring charges for fiscal 2019 and fiscal 2018 (in millions):
The liability for restructuring and other exit costs of $47.8 million is included in accrued liabilities and other long-term liabilities, on the Company's consolidated balance sheets as of March 31, 2019.
| | Employee Separation Costs | Balance at March 31, 2017 | Charges | Payments | Non-cash - Other | Changes in foreign exchange rates | Balance at March 31, 2018 | Additions due to Microsemi acquisition | Charges | Payments | Non-cash - Other | Changes in foreign exchange rates | Balance at March 31, 2019 | Current | Non-current | Total |
| Restructuring | Employee Separation Costs | $5.4 | 1.2 | (5.9) | (0.2) | 0.3 | 0.8 | 10.4 | 48.9 | (47.1) | — | (0.1) | $12.9 | | | |
| | Exit Costs | $34.8 | 0.7 | (9.2) | 1.0 | — | 27.3 | 9.0 | (4.7) | (13.1) | 0.7 | — | $19.2 | | | |
| Non-Restructuring | Exit Costs | $— | 20.0 | (0.9) | — | — | 19.1 | — | — | (4.1) | 0.7 | — | $15.7 | | | |
| | Total | $40.2 | 21.9 | (16.0) | 0.8 | 0.3 | 47.2 | 19.4 | 44.2 | (64.3) | 1.4 | (0.1) | $47.8 | $26.9 | 20.9 | $47.8 | | What was the liability for restructuring and other exit costs that was included in accrued liabilities and other long-term liabilities as of 2019? | $47.8 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: The following is a roll forward of accrued restructuring charges for fiscal 2019 and fiscal 2018 (in millions):
The liability for restructuring and other exit costs of $47.8 million is included in accrued liabilities and other long-term liabilities, on the Company's consolidated balance sheets as of March 31, 2019.
| | Employee Separation Costs | Balance at March 31, 2017 | Charges | Payments | Non-cash - Other | Changes in foreign exchange rates | Balance at March 31, 2018 | Additions due to Microsemi acquisition | Charges | Payments | Non-cash - Other | Changes in foreign exchange rates | Balance at March 31, 2019 | Current | Non-current | Total |
| Restructuring | Employee Separation Costs | $5.4 | 1.2 | (5.9) | (0.2) | 0.3 | 0.8 | 10.4 | 48.9 | (47.1) | — | (0.1) | $12.9 | | | |
| | Exit Costs | $34.8 | 0.7 | (9.2) | 1.0 | — | 27.3 | 9.0 | (4.7) | (13.1) | 0.7 | — | $19.2 | | | |
| Non-Restructuring | Exit Costs | $— | 20.0 | (0.9) | — | — | 19.1 | — | — | (4.1) | 0.7 | — | $15.7 | | | |
| | Total | $40.2 | 21.9 | (16.0) | 0.8 | 0.3 | 47.2 | 19.4 | 44.2 | (64.3) | 1.4 | (0.1) | $47.8 | $26.9 | 20.9 | $47.8 | | How many years did the total balance exceed $45 million? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Issuer purchases of equity securities
Common stock repurchased in the three months ended December 31, 2019:
(1) Shares withheld to cover the option exercise price and tax withholding obligations under the net settlement provisions of our stock compensation awards have been included in these amounts.
(2) See "Stock repurchase program" in Item 7 of this Annual Report for additional information.
| 1) (2)((in thousands, except per share amounts) | October 1, 2019 - October 31, 2019 | November 1, 2019 - November 30, 2019 | December 1, 2019 - December 31, 2019 | Total |
| Total Number of Shares Purchased | 24 | 108 | 144 | 276 |
| Average Price Paid per Share | $71.89 | $75.63 | $76.64 | $75.83 |
| Total Number of Shares Purchased as Part of Publicly Announced Share Repurchase Program | 12 | - | - | |
| Approximate Dollar Value of Shares That May Yet Be Purchased at Period End Under Publicly Announced Share Repurchased Programs | $45,484 | $45,484 | $45,484 | | | What are the respective number of shares purchased in October and November 2019? | "24", "108" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Issuer purchases of equity securities
Common stock repurchased in the three months ended December 31, 2019:
(1) Shares withheld to cover the option exercise price and tax withholding obligations under the net settlement provisions of our stock compensation awards have been included in these amounts.
(2) See "Stock repurchase program" in Item 7 of this Annual Report for additional information.
| 1) (2)((in thousands, except per share amounts) | October 1, 2019 - October 31, 2019 | November 1, 2019 - November 30, 2019 | December 1, 2019 - December 31, 2019 | Total |
| Total Number of Shares Purchased | 24 | 108 | 144 | 276 |
| Average Price Paid per Share | $71.89 | $75.63 | $76.64 | $75.83 |
| Total Number of Shares Purchased as Part of Publicly Announced Share Repurchase Program | 12 | - | - | |
| Approximate Dollar Value of Shares That May Yet Be Purchased at Period End Under Publicly Announced Share Repurchased Programs | $45,484 | $45,484 | $45,484 | | | What are the respective number of shares purchased in November and December 2019? | "108", "144" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Notes to Consolidated Financial Statements - (Continued) Fiscal Years Ended May 26, 2019, May 27, 2018, and May 28, 2017 (columnar dollars in millions except per share amounts) 10. EARNINGS PER SHARE
Basic earnings per share is calculated on the basis of weighted average outstanding shares of common stock. Diluted earnings per share is computed on the basis of basic weighted average outstanding shares of common stock adjusted for the dilutive effect of stock options, restricted stock unit awards, and other dilutive securities. During the second quarter of fiscal 2019, we issued 77.5 million shares of our common stock out of treasury to the former shareholders of Pinnacle pursuant to the terms of the Merger Agreement. In addition, we issued 16.3 million shares of our common stock, par value $5.00 per share, in an underwritten public offering in connection with the financing of the Pinnacle acquisition, with net proceeds of $555.7 million (see Note 2).
The following table reconciles the income and average share amounts used to compute both basic and diluted earnings per share:
For fiscal 2019, 2018, and 2017, there were 2.0 million, 1.3 million, and 0.8 million stock options outstanding, respectively, that were excluded from the computation of diluted weighted average shares because the effect was antidilutive.
| | Net income available to Conagra Brands, Inc. common stockholders | Income from continuing operations attributable to Conagra Brands, Inc. common stockholders | Income (loss) from discontinued operations, net of tax, attributable to Conagra Brands, Inc. common stockholders | Net income attributable to Conagra Brands, Inc. common stockholders | Less | Net income available to Conagra Brands, Inc. common stockholders | Weighted average shares outstanding | Basic weighted average shares outstanding | Add | Diluted weighted average shares outstanding |
| 2019 | : | $680.2 | (1.9) | $678.3 | Increase in redemption value of noncontrolling interests in excess of earnings allocated: — | $678.3 | : | 444.0 | Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities: 1.6 | 445.6 |
| 2018 | : | $794.1 | 14.3 | $808.4 | Increase in redemption value of noncontrolling interests in excess of earnings allocated: — | $808.4 | : | 403.9 | Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities: 3.5 | 407.4 |
| 2017 | : | $544.1 | 95.2 | $639.3 | Increase in redemption value of noncontrolling interests in excess of earnings allocated: 0.8 | $638.5 | : | 431.9 | Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities: 4.1 | 436.0 | | What was the net income available to Conagra Brands, Inc. common stakeholders in fiscal 2017, 2018, and 2019, respectively? | "$638.5", "$808.4", "$678.3" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 23 Borrowings (continued)
The fair values of fixed rate borrowings and CMBS are assessed based on quoted market prices, and as such are categorised as Level 1 in the fair value hierarchy (see note 27 for definition). The fair values of unlisted floating rate borrowings are equal to their carrying values and are categorised as Level 2 in the fair value hierarchy.
The maturity profile of debt (excluding lease liabilities) is as follows:
Certain borrowing agreements contain financial and other conditions that, if contravened, could alter the repayment profile (further information is provided in financial covenants on pages 165 and 166)
At 31 December 2019 the Group had committed undrawn borrowing facilities of £238.5 million (2018: £274.2 million), maturing in 2021 and 2022. This includes £42.1 million of undrawn facilities in respect of development finance.
| £m | Repayable within one year | Repayable in more than one year but not more than two years | Repayable in more than two years but not more than five years | Repayable in more than five years | 4,651.4 | |
| 2019 | 65.8 | 901.8 | 2,114.2 | 1,569.6 | 4,651.4 |
| 2018 | 46.7 | 30.5 | 2,722.0 | 2,155.9 | 4,955.1 | | What is the amount of undrawn borrowing facilities at 31 December 2019? | £238.5 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 23 Borrowings (continued)
The fair values of fixed rate borrowings and CMBS are assessed based on quoted market prices, and as such are categorised as Level 1 in the fair value hierarchy (see note 27 for definition). The fair values of unlisted floating rate borrowings are equal to their carrying values and are categorised as Level 2 in the fair value hierarchy.
The maturity profile of debt (excluding lease liabilities) is as follows:
Certain borrowing agreements contain financial and other conditions that, if contravened, could alter the repayment profile (further information is provided in financial covenants on pages 165 and 166)
At 31 December 2019 the Group had committed undrawn borrowing facilities of £238.5 million (2018: £274.2 million), maturing in 2021 and 2022. This includes £42.1 million of undrawn facilities in respect of development finance.
| £m | Repayable within one year | Repayable in more than one year but not more than two years | Repayable in more than two years but not more than five years | Repayable in more than five years | 4,651.4 | |
| 2019 | 65.8 | 901.8 | 2,114.2 | 1,569.6 | 4,651.4 |
| 2018 | 46.7 | 30.5 | 2,722.0 | 2,155.9 | 4,955.1 | | What is the amount of undrawn facilities in respect of development finance? | £42.1 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 49. Notes on related parties
In financial year 2018/19, METRO maintained the following business relations to related companies:
Transactions with associated companies and other related parties
The services received totalling €93 million (2017/18: €96 million) that METRO companies received from associates and other related parties in financial year 2018/19 consisted mainly of real estate leases in the amount of €79 million (2017/18: €80 million), thereof €76 million from associates; (2017/18: €78 million) and the rendering of services in the amount of €15 million (2017/18: €16 million), thereof €7 million from joint ventures; (2017/18: €8 million). Other future financial commitments in the amount of €667 million (2017/18: €719 million) consist of tenancy agreements with the following associated companies: OPCI FWP France, OPCI FWS France, Habib METRO Pakistan and the Mayfair group. In financial year 2018/19, METRO companies provided services to companies belonging to the group of associates and related parties in the amount of €8 million (2017/18: €8 million). A dividend of €38 million has been paid out to a shareholder with significant influence. Business relations with related parties are based on contractual agreements providing for arm’s length prices. As in financial year 2017/18, there were no business relations with related natural persons and companies of management in key positions in financial year 2018/19.
Related persons (compensation for management in key positions)
The management in key positions consists of members of the Management Board and the Supervisory Board of METRO AG. Thus, the expenses for members of the Management Board of METRO AG amounted to €6.9 million (2017/18: €5.2 million) for short-term benefits and €3.7 million (2017/18: €7.0 million) for post-employment benefits. Thereof an amount of €3.0 million relates to termination benefits paid in financial year 2018/19. The expenses for existing compensation programmes with long-term incentive effect in financial year 2018/19, calculated in accordance with IFRS 2, amounted to €2.6 million (2017/18: €0.7 million). The short-term compensation for the members of the Supervisory Board of METRO AG amounted to €2.2 million (2017/18: €2.2 million). The total compensation for members of the Management Board in key positions in financial year 2018/19 amounted to €15.4 million (2017/18: €15.1 million).
| € million | Services provided | Associates | Joint ventures | Miscellaneous related parties | Services received | Associates | Joint ventures | Miscellaneous related parties | Receivables from services provided, as of 30/9 | Associates | Joint ventures | Miscellaneous related parties | Liabilities from goods/services received as of 30/9 | Associates | Joint ventures | Miscellaneous related parties |
| 2017/2018 | 8 | 5 | 3 | 0 | 96 | 78 | 8 | 10 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 |
| 2018/2019 | 8 | 5 | 3 | 0 | 93 | 76 | 7 | 10 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | | Who were the parties to which METRO maintained business relations with related companies? | "Associates", "Joint ventures", "Miscellaneous related parties" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 49. Notes on related parties
In financial year 2018/19, METRO maintained the following business relations to related companies:
Transactions with associated companies and other related parties
The services received totalling €93 million (2017/18: €96 million) that METRO companies received from associates and other related parties in financial year 2018/19 consisted mainly of real estate leases in the amount of €79 million (2017/18: €80 million), thereof €76 million from associates; (2017/18: €78 million) and the rendering of services in the amount of €15 million (2017/18: €16 million), thereof €7 million from joint ventures; (2017/18: €8 million). Other future financial commitments in the amount of €667 million (2017/18: €719 million) consist of tenancy agreements with the following associated companies: OPCI FWP France, OPCI FWS France, Habib METRO Pakistan and the Mayfair group. In financial year 2018/19, METRO companies provided services to companies belonging to the group of associates and related parties in the amount of €8 million (2017/18: €8 million). A dividend of €38 million has been paid out to a shareholder with significant influence. Business relations with related parties are based on contractual agreements providing for arm’s length prices. As in financial year 2017/18, there were no business relations with related natural persons and companies of management in key positions in financial year 2018/19.
Related persons (compensation for management in key positions)
The management in key positions consists of members of the Management Board and the Supervisory Board of METRO AG. Thus, the expenses for members of the Management Board of METRO AG amounted to €6.9 million (2017/18: €5.2 million) for short-term benefits and €3.7 million (2017/18: €7.0 million) for post-employment benefits. Thereof an amount of €3.0 million relates to termination benefits paid in financial year 2018/19. The expenses for existing compensation programmes with long-term incentive effect in financial year 2018/19, calculated in accordance with IFRS 2, amounted to €2.6 million (2017/18: €0.7 million). The short-term compensation for the members of the Supervisory Board of METRO AG amounted to €2.2 million (2017/18: €2.2 million). The total compensation for members of the Management Board in key positions in financial year 2018/19 amounted to €15.4 million (2017/18: €15.1 million).
| € million | Services provided | Associates | Joint ventures | Miscellaneous related parties | Services received | Associates | Joint ventures | Miscellaneous related parties | Receivables from services provided, as of 30/9 | Associates | Joint ventures | Miscellaneous related parties | Liabilities from goods/services received as of 30/9 | Associates | Joint ventures | Miscellaneous related parties |
| 2017/2018 | 8 | 5 | 3 | 0 | 96 | 78 | 8 | 10 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 |
| 2018/2019 | 8 | 5 | 3 | 0 | 93 | 76 | 7 | 10 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | | What were the business relations to related companies listed in the table? | "Services provided", "Services received", "Receivables from services provided, as of 30/9", "Liabilities from goods/services received as of 30/9" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Indebtedness
The following table presents selected financial information on our indebtedness (in thousands):
As of December 27, 2019, we have various floating- and fixed-rate debt instruments with varying maturities for an aggregate principal amount of $392.1 million. See Note 9 “Debt Obligations” to our consolidated financial statements for a full description of our debt instruments.
On November 22, 2019, we issued $150.0 million aggregate principal amount of 1.875% Convertible Senior Notes (the “Senior Notes”). Approximately $43.2 million of the net proceeds were used to repay all outstanding borrowings then outstanding under our ABL and we intend to use the remainder for working capital and general corporate purposes, which may include future acquisitions.
On July 25, 2018, the holders of the $36.8 million principal amount of convertible subordinated notes that were issued in connection with our acquisition of Del Monte converted these notes and related accrued interest of $0.3 million into 1,246,272 shares of the Company’s common stock.
On June 29, 2018, we entered into an asset-based loan facility (“ABL”) that increased our borrowing capacity from $75.0 million to $150.0 million. Additionally, we reduced the fixed-rate portion of interest charged on our senior secured term loan (“Term Loan”) from 475 basis points to 350 basis points over Adjusted LIBOR as a result of repricings executed on December 14, 2017 and November 16, 2018.
A portion of the interest rate charged on our Term Loan is currently based on LIBOR and, at our option, a component of the interest charged on the borrowings outstanding on our ABL, if any, may bear interest rates based on LIBOR. LIBOR has been the subject of reform and is expected to phase out by the end of fiscal 2021. The consequences of the discontinuation of LIBOR cannot be entirely predicted but could impact the interest expense we incur on these debt instruments. We will negotiate alternatives to LIBOR with our lenders before LIBOR ceases to be a widely available reference rate.
| | December 27, 2019 | Senior secured term loan | Total Convertible debt | Borrowings outstanding on asset-based loan facility | Finance leases and other financing obligations |
| | December 27, 2019 | $238,129 | $154,000 | $— | $3,905 |
| Fiscal Year Ended | December 28, 2018 | $239,745 | $— | $44,185 | $193 |
| | December 29, 2017 | $238,435 | $36,750 | $— | $664 | | What is the value of senior secured term loan for fiscal years 2019 and 2018 respectively? | "$238,129", "$239,745" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Indebtedness
The following table presents selected financial information on our indebtedness (in thousands):
As of December 27, 2019, we have various floating- and fixed-rate debt instruments with varying maturities for an aggregate principal amount of $392.1 million. See Note 9 “Debt Obligations” to our consolidated financial statements for a full description of our debt instruments.
On November 22, 2019, we issued $150.0 million aggregate principal amount of 1.875% Convertible Senior Notes (the “Senior Notes”). Approximately $43.2 million of the net proceeds were used to repay all outstanding borrowings then outstanding under our ABL and we intend to use the remainder for working capital and general corporate purposes, which may include future acquisitions.
On July 25, 2018, the holders of the $36.8 million principal amount of convertible subordinated notes that were issued in connection with our acquisition of Del Monte converted these notes and related accrued interest of $0.3 million into 1,246,272 shares of the Company’s common stock.
On June 29, 2018, we entered into an asset-based loan facility (“ABL”) that increased our borrowing capacity from $75.0 million to $150.0 million. Additionally, we reduced the fixed-rate portion of interest charged on our senior secured term loan (“Term Loan”) from 475 basis points to 350 basis points over Adjusted LIBOR as a result of repricings executed on December 14, 2017 and November 16, 2018.
A portion of the interest rate charged on our Term Loan is currently based on LIBOR and, at our option, a component of the interest charged on the borrowings outstanding on our ABL, if any, may bear interest rates based on LIBOR. LIBOR has been the subject of reform and is expected to phase out by the end of fiscal 2021. The consequences of the discontinuation of LIBOR cannot be entirely predicted but could impact the interest expense we incur on these debt instruments. We will negotiate alternatives to LIBOR with our lenders before LIBOR ceases to be a widely available reference rate.
| | December 27, 2019 | Senior secured term loan | Total Convertible debt | Borrowings outstanding on asset-based loan facility | Finance leases and other financing obligations |
| | December 27, 2019 | $238,129 | $154,000 | $— | $3,905 |
| Fiscal Year Ended | December 28, 2018 | $239,745 | $— | $44,185 | $193 |
| | December 29, 2017 | $238,435 | $36,750 | $— | $664 | | What is the value of finance leases and other financing obligations for fiscal years 2019 and 2018 respectively? | "$3,905", "$193" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: NOTE 19—RESTRUCTURING
In 2019, we initiated projects to restructure and modify our supply chain strategy, functional responsibilities, methods, capabilities, processes and rationalize suppliers with the goal of reducing ongoing costs and increasing the efficiencies of our worldwide procurement organization. The majority of the costs associated with these restructuring activities are related to consultants that we have engaged in connection with these efforts, and such costs have been recognized by our corporate entity. The total costs of this restructuring project are expected to exceed amounts incurred to date by $0.9 million and these efforts are expected to be completed early in fiscal 2020. Also, in fiscal 2019 our CTS and CGD segments incurred restructuring charges, consisting primarily of employee severance costs related to headcount reductions initiated to optimize our cost positions. The total costs of each of these restructuring plans initiated thus far are not expected to be significantly greater than the charges incurred to date.
Our fiscal 2018 restructuring activities related primarily to expenses incurred by our corporate entity to establish a North American shared services center. Our fiscal 2017 restructuring activities included corporate efforts to increase the centralization and efficiency of our manufacturing processes, as well as restructuring charges incurred by our CGD businesses related to the elimination of a level of management in the CGD simulator business.
Restructuring charges incurred by our business segments were as follows (in millions):
| | 2019 | Restructuring costs | Cubic Transportation Systems | Cubic Mission Solutions | Cubic Global Defense | Unallocated corporate expenses | Total restructuring costs |
| | 2019 | : | $ 3.2 | — | 3.3 | 8.9 | $ 15.4 |
| Years Ended September 30, | 2018 | : | $ 0.4 | 0.2 | 1.3 | 3.1 | $ 5.0 |
| | 2017 | : | $ 0.4 | — | 0.9 | 1.0 | $ 2.3 | | What are the years included in the table? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Contract assets and deferred revenue
(1) Included in other current assets. (2) Included in other long-term assets. (3) Included in other long-term liabilities.
Contract assets are client committed amounts for which revenue recognized exceeds the amount billed to the client and the right to payment is subject to conditions other than the passage of time, such as the completion of a related performance obligation. Deferred revenue consists of billings and payments received in advance of revenue recognition. Contract assets and deferred revenue are netted at the contract level for each reporting period.
The change in deferred revenue in the year ended December 31, 2019 was primarily due to new billings in advance of revenue recognition, partially offset by revenue recognized during the period that was included in deferred revenue at December 31, 2018.
| (in thousands) | Contract assets (1) | Long-term contract assets (2) | $10,978 | Deferred revenue | Long-term deferred revenue (3) | $195,487 | |
| December 31, 2019 | $5,558 | 5,420 | $10,978 | $190,080 | 5,407 | $195,487 |
| December 31, 2018 | $3,711 | 2,543 | $6,254 | $185,145 | 5,344 | $190,489 | | What are contract assets and long-term contract assets respectively classified under? | "other current assets", "other long-term assets" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Contract assets and deferred revenue
(1) Included in other current assets. (2) Included in other long-term assets. (3) Included in other long-term liabilities.
Contract assets are client committed amounts for which revenue recognized exceeds the amount billed to the client and the right to payment is subject to conditions other than the passage of time, such as the completion of a related performance obligation. Deferred revenue consists of billings and payments received in advance of revenue recognition. Contract assets and deferred revenue are netted at the contract level for each reporting period.
The change in deferred revenue in the year ended December 31, 2019 was primarily due to new billings in advance of revenue recognition, partially offset by revenue recognized during the period that was included in deferred revenue at December 31, 2018.
| (in thousands) | Contract assets (1) | Long-term contract assets (2) | $10,978 | Deferred revenue | Long-term deferred revenue (3) | $195,487 | |
| December 31, 2019 | $5,558 | 5,420 | $10,978 | $190,080 | 5,407 | $195,487 |
| December 31, 2018 | $3,711 | 2,543 | $6,254 | $185,145 | 5,344 | $190,489 | | What are long-term deferred revenue respectively classified under? | other long-term liabilities |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Definite-Lived Intangible Assets, Net
The following table summarizes the changes in the carrying amount of definite-lived intangible assets during the periods presented (table in millions):
Upon adoption of Topic 842 on February 2, 2019, leasehold interest of $116 million related to favorable terms of certain ground lease agreements was derecognized and adjusted to the carrying amount of the operating lease ROU assets and classified as other assets on the consolidated balance sheets. Prior to adoption, these assets were classified as intangible assets, net on the consolidated balance sheets.
| | Balance, beginning of the year | Additions to intangible assets related to business combinations | Amortization expense | Derecognized leasehold interest | Balance, end of the year |
| January 31, 2020 | $966 | 622 | (300) | (116) | $1,172 |
| February 1, 2019 | $1,059 | 154 | (247) | — | $966 | | Which years does the table provide information for the changes in the carrying amount of definite-lived intangible assets? | "2020", "2019" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Definite-Lived Intangible Assets, Net
The following table summarizes the changes in the carrying amount of definite-lived intangible assets during the periods presented (table in millions):
Upon adoption of Topic 842 on February 2, 2019, leasehold interest of $116 million related to favorable terms of certain ground lease agreements was derecognized and adjusted to the carrying amount of the operating lease ROU assets and classified as other assets on the consolidated balance sheets. Prior to adoption, these assets were classified as intangible assets, net on the consolidated balance sheets.
| | Balance, beginning of the year | Additions to intangible assets related to business combinations | Amortization expense | Derecognized leasehold interest | Balance, end of the year |
| January 31, 2020 | $966 | 622 | (300) | (116) | $1,172 |
| February 1, 2019 | $1,059 | 154 | (247) | — | $966 | | How many years did balance at the beginning of the year exceed $1,000 million? | 2019 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Significant components of our deferred tax assets and liabilities consist of the following:
The United States Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017 and introduced significant changes to the income tax law in the United States. Effective in 2018, the Tax Act reduced the United States statutory tax rate from 35% to 21% and created new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax and the base erosion tax, respectively.
In addition, in 2017 we were subject to a one-time transition tax on accumulated foreign subsidiary earnings not previously subject to income tax in the United States.
Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, we made reasonable estimates of the effects and recorded provisional expense of $15.3 million in our financial statements for the year ended December 31, 2017 in accordance with guidance in Staff Accounting Bulletin No. 118 (“SAB 118”), which allows a measurement period of up to one year after the enactment date to finalize the recording of the related tax impacts.
This provisional expense included $10.1 million expense for the remeasurement of deferred tax balances to reflect the lower federal rate and expense of $5.2 million for the one-time transition tax on accumulated foreign subsidiary earnings not previously subject to income tax in the United States.
Adjustments to these provisional amounts that we recorded in 2018 did not have a significant impact on our consolidated financial statements. Our accounting for the effects of the enactment of U.S. Tax Reform is now complete. Due to our divestiture of our investment in Netsmart, the amounts noted above do not include the provisional amounts recorded by Netsmart in 2017.
We had federal net operating loss (“NOL”) carryforwards of $174 million and $164 million as of December 31, 2019, and 2018, respectively. The federal NOL carryforward includes US NOL carryovers of $8 million and Israeli NOL carryovers of $56 million that do not expire. As of December 31, 2019 and 2018, we had state NOL carryforwards of $1 million and $2 million, respectively.
The NOL carryforwards expire in various amounts starting in 2020 for both federal and state tax purposes. The utilization of the federal NOL carryforwards is subject to limitation under the rules regarding changes in stock ownership as determined by the Internal Revenue Code.
| | (In thousands) | Deferred tax assets | Accruals and reserves, net | Allowance for doubtful accounts | Stock-based compensation, net | Deferred revenue | Operating and finance lease liabilities | Net operating loss carryforwards | Research and development tax credit | Other | Less | Total deferred tax assets | Deferred tax liabilities | Prepaid expense | Property and equipment, net | Acquired intangibles, net | Operating and finance right-to-use assets | Other | Total deferred tax liabilities | Net deferred tax liabilities |
| December 31, | 2019 | | $29,627 | 11,507 | 10,382 | 21,786 | 22,085 | 37,717 | 899 | 7,488 | Valuation Allowance: (19,219) | 122,272 | | (5,372) | (3,695) | (111,284) | (17,255) | 0 | (137,606) | $(15,334) |
| | 2018 | | $31,565 | 11,378 | 10,595 | 8,160 | 0 | 36,649 | 899 | 10,784 | Valuation Allowance: (18,734) | 91,296 | | (6,733) | (7,442) | (129,879) | 0 | (676) | (144,730) | $(53,434) | | When was United States Tax Cuts and Jobs Act (the “Tax Act”) enacted? | December 22, 2017 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Significant components of our deferred tax assets and liabilities consist of the following:
The United States Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017 and introduced significant changes to the income tax law in the United States. Effective in 2018, the Tax Act reduced the United States statutory tax rate from 35% to 21% and created new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax and the base erosion tax, respectively.
In addition, in 2017 we were subject to a one-time transition tax on accumulated foreign subsidiary earnings not previously subject to income tax in the United States.
Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, we made reasonable estimates of the effects and recorded provisional expense of $15.3 million in our financial statements for the year ended December 31, 2017 in accordance with guidance in Staff Accounting Bulletin No. 118 (“SAB 118”), which allows a measurement period of up to one year after the enactment date to finalize the recording of the related tax impacts.
This provisional expense included $10.1 million expense for the remeasurement of deferred tax balances to reflect the lower federal rate and expense of $5.2 million for the one-time transition tax on accumulated foreign subsidiary earnings not previously subject to income tax in the United States.
Adjustments to these provisional amounts that we recorded in 2018 did not have a significant impact on our consolidated financial statements. Our accounting for the effects of the enactment of U.S. Tax Reform is now complete. Due to our divestiture of our investment in Netsmart, the amounts noted above do not include the provisional amounts recorded by Netsmart in 2017.
We had federal net operating loss (“NOL”) carryforwards of $174 million and $164 million as of December 31, 2019, and 2018, respectively. The federal NOL carryforward includes US NOL carryovers of $8 million and Israeli NOL carryovers of $56 million that do not expire. As of December 31, 2019 and 2018, we had state NOL carryforwards of $1 million and $2 million, respectively.
The NOL carryforwards expire in various amounts starting in 2020 for both federal and state tax purposes. The utilization of the federal NOL carryforwards is subject to limitation under the rules regarding changes in stock ownership as determined by the Internal Revenue Code.
| | (In thousands) | Deferred tax assets | Accruals and reserves, net | Allowance for doubtful accounts | Stock-based compensation, net | Deferred revenue | Operating and finance lease liabilities | Net operating loss carryforwards | Research and development tax credit | Other | Less | Total deferred tax assets | Deferred tax liabilities | Prepaid expense | Property and equipment, net | Acquired intangibles, net | Operating and finance right-to-use assets | Other | Total deferred tax liabilities | Net deferred tax liabilities |
| December 31, | 2019 | | $29,627 | 11,507 | 10,382 | 21,786 | 22,085 | 37,717 | 899 | 7,488 | Valuation Allowance: (19,219) | 122,272 | | (5,372) | (3,695) | (111,284) | (17,255) | 0 | (137,606) | $(15,334) |
| | 2018 | | $31,565 | 11,378 | 10,595 | 8,160 | 0 | 36,649 | 899 | 10,784 | Valuation Allowance: (18,734) | 91,296 | | (6,733) | (7,442) | (129,879) | 0 | (676) | (144,730) | $(53,434) | | How much was the federal net operating loss (“NOL”) carryforwards as of December 31, 2019, and 2018 respectively? | "$174 million", "$164 million" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Note 3. Fair Value of Assets and Liabilities
The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of our assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 4, Note 7, Note 8, and Note 9 for additional information on these assets and liabilities.
(1) Disclosed, but not carried, at fair value.
(2) Measured at fair value on a nonrecurring basis.
(3) Measured and carried at fair value on a recurring basis.
| | Level | Assets | Cash and cash equivalents(1) | Loan receivables held for sale, net(2) | Servicing assets(3) | Liabilities | Finance charge reversal liability(3) | Term loan(1) | Interest rate swap(3) | Servicing liabilities(3) |
| | Level | : | 1 | 2 | 3 | : | 3 | 2 | 2 | 3 |
| December 31, 2019 | Carrying Value | : | $195,760 | 51,926 | 30,459 | : | $206,035 | 384,497 | 2,763 | 3,796 |
| | Fair Value | : | $195,760 | 55,958 | 30,459 | : | $206,035 | 392,201 | 2,763 | 3,796 |
| December 31, 2018 | Carrying Value | : | $303,390 | 2,876 | — | : | $138,589 | 386,822 | — | 3,016 |
| | Fair Value | : | $303,390 | 3,552 | — | : | $138,589 | 386,234 | — | 3,016 | | How many years did the fair value of Finance charge reversal liability exceed $200,000 thousand? | 2019 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 16. Segment, Geographic, and Significant Customer Information
We operate in one industry segment: the design, manufacturing, marketing, and technical support of high-performance storage and data management solutions. We conduct business globally, and our sales and support activities are managed on a geographic basis. Our management reviews financial information presented on a consolidated basis, accompanied by disaggregated information it receives from our internal management system about revenues by geographic region, based on the location from which the customer relationship is managed, for purposes of allocating resources and evaluating financial performance. We do not allocate costs of revenues, research and development, sales and marketing, or general and administrative expenses to our geographic regions in this internal management reporting because management does not review operations or operating results, or make planning decisions, below the consolidated entity level.
Summarized revenues by geographic region based on information from our internal management system and utilized by our Chief Executive Officer, who is considered our Chief Operating Decision Maker, is as follows (in millions):
Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $3,116 million, $2,878 million and $2,721 million during fiscal 2019, 2018 and 2017, respectively.
| | April 26, 2019 | United States, Canada and Latin America (Americas) | Europe, Middle East and Africa (EMEA) | Asia Pacific (APAC) | Net revenues |
| | April 26, 2019 | $ 3,425 | 1,847 | 874 | $ 6,146 |
| Year Ended | April 27, 2018 | $ 3,207 | 1,873 | 839 | $ 5,919 |
| | April 28, 2017 | $ 3,021 | 1,741 | 729 | $ 5,491 | | What was the sales to customers inside the U.S. in 2017? | $2,721 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 16. Segment, Geographic, and Significant Customer Information
We operate in one industry segment: the design, manufacturing, marketing, and technical support of high-performance storage and data management solutions. We conduct business globally, and our sales and support activities are managed on a geographic basis. Our management reviews financial information presented on a consolidated basis, accompanied by disaggregated information it receives from our internal management system about revenues by geographic region, based on the location from which the customer relationship is managed, for purposes of allocating resources and evaluating financial performance. We do not allocate costs of revenues, research and development, sales and marketing, or general and administrative expenses to our geographic regions in this internal management reporting because management does not review operations or operating results, or make planning decisions, below the consolidated entity level.
Summarized revenues by geographic region based on information from our internal management system and utilized by our Chief Executive Officer, who is considered our Chief Operating Decision Maker, is as follows (in millions):
Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $3,116 million, $2,878 million and $2,721 million during fiscal 2019, 2018 and 2017, respectively.
| | April 26, 2019 | United States, Canada and Latin America (Americas) | Europe, Middle East and Africa (EMEA) | Asia Pacific (APAC) | Net revenues |
| | April 26, 2019 | $ 3,425 | 1,847 | 874 | $ 6,146 |
| Year Ended | April 27, 2018 | $ 3,207 | 1,873 | 839 | $ 5,919 |
| | April 28, 2017 | $ 3,021 | 1,741 | 729 | $ 5,491 | | Which years does the table provide information for Summarized revenues by geographic region? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: 16. Segment, Geographic, and Significant Customer Information
We operate in one industry segment: the design, manufacturing, marketing, and technical support of high-performance storage and data management solutions. We conduct business globally, and our sales and support activities are managed on a geographic basis. Our management reviews financial information presented on a consolidated basis, accompanied by disaggregated information it receives from our internal management system about revenues by geographic region, based on the location from which the customer relationship is managed, for purposes of allocating resources and evaluating financial performance. We do not allocate costs of revenues, research and development, sales and marketing, or general and administrative expenses to our geographic regions in this internal management reporting because management does not review operations or operating results, or make planning decisions, below the consolidated entity level.
Summarized revenues by geographic region based on information from our internal management system and utilized by our Chief Executive Officer, who is considered our Chief Operating Decision Maker, is as follows (in millions):
Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $3,116 million, $2,878 million and $2,721 million during fiscal 2019, 2018 and 2017, respectively.
| | April 26, 2019 | United States, Canada and Latin America (Americas) | Europe, Middle East and Africa (EMEA) | Asia Pacific (APAC) | Net revenues |
| | April 26, 2019 | $ 3,425 | 1,847 | 874 | $ 6,146 |
| Year Ended | April 27, 2018 | $ 3,207 | 1,873 | 839 | $ 5,919 |
| | April 28, 2017 | $ 3,021 | 1,741 | 729 | $ 5,491 | | How many years did revenue from the Americas exceed $3,000 million? | "2019", "2018", "2017" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Long-term Incentive Program Performance Share Awards
During the year ended December 31, 2017, pursuant to the Company’s 2016 Incentive Plan, the Company granted long-term incentive program performance share awards (“LTIP performance shares”). These LTIP performance shares are earned, if at all, based upon the achievement, over a specified period that must not be less than one year and is typically a three-year performance period, of performance goals related to (i) the compound annual growth over the performance period in the sales for the Company as determined by the Company, and (ii) the cumulative operating income or EBITDA over the performance period as determined by the Company. Up to 200% of the LTIP performance shares may be earned upon achievement of performance goals equal to or exceeding the maximum target levels for the performance goals over the performance period. On a quarterly basis, management
A summary of the nonvested LTIP performance shares is as follows:
During the year ended December 31, 2019, the Company revised the expected attainment rates for outstanding LTIP performance shares due to changes in forecasted sales and operating income, resulting in additional stock-based compensation expense of approximately $3.7 million.
| | Nonvested at December 31, 2018 | Forfeited | Change in expected attainment | Nonvested at December 31, 2019 |
| Number of Shares at Expected Attainment | 540,697 | -56,567 | 185,339 | 669,469 |
| Weighted Average Grant Date Fair Value | $19.83 | 18.80 | 20.09 | $20.12 | | What was the additional stock-based compensation expense in 2019? | $3.7 million |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Notes to Consolidated Financial Statements (Continued)
The following geographic information includes Property, plant and equipment, net, based on physical location (amounts in thousands):
(1) No country included in this caption exceeded 1% of consolidated Property, plant and equipment net for fiscal years 2019 and 2018.
| | 2019 | United States | Japan | Thailand | Mexico | Italy | China | Portugal | Macedonia | Bulgaria | Sweden | Other (1) | Total Non-United States | $495,280 | |
| March 31, | 2019 | $57,095 | 89,602 | 82,389 | 121,147 | 35,197 | 45,815 | 31,872 | 12,906 | 5,480 | 4,800 | 8,977 | 438,185 | $495,280 |
| | 2018 | $49,530 | 79,855 | 74,100 | 62,503 | 39,398 | 36,396 | 29,073 | 13,723 | 5,597 | 6,005 | 9,136 | 355,786 | $405,316 | | Which years does the table provide information for Property, plant and equipment, net, based on physical location? | "2019", "2018" |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Notes to Consolidated Financial Statements (Continued)
The following geographic information includes Property, plant and equipment, net, based on physical location (amounts in thousands):
(1) No country included in this caption exceeded 1% of consolidated Property, plant and equipment net for fiscal years 2019 and 2018.
| | 2019 | United States | Japan | Thailand | Mexico | Italy | China | Portugal | Macedonia | Bulgaria | Sweden | Other (1) | Total Non-United States | $495,280 | |
| March 31, | 2019 | $57,095 | 89,602 | 82,389 | 121,147 | 35,197 | 45,815 | 31,872 | 12,906 | 5,480 | 4,800 | 8,977 | 438,185 | $495,280 |
| | 2018 | $49,530 | 79,855 | 74,100 | 62,503 | 39,398 | 36,396 | 29,073 | 13,723 | 5,597 | 6,005 | 9,136 | 355,786 | $405,316 | | How many years did Total net property, plant and equipment from Non-United States regions exceed $400,000 thousand? | 2019 |
You are a helpful assistant named xDAN-Agent, excellent in reading and summary. Please read the following text and answer the question from user. Here's the context: Geographic Information
(1) Amounts by geography have been reclassified from prior year disclosure to reflect adjustments to our regional operating model. As of January 1, 2019, our geographic regions are: North America, EMEA, South America and APAC. Our North American operations include Canada, the United States, Mexico and Central America. Mexico and Central America were previously included in Latin America. Refer to Note 2, "Summary of Significant Accounting Policies and Recently Issued Accounting Standards," of the Notes to Consolidated Financial Statements.
(2) No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the years ended December 31, 2019, 2018 or 2017 or long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2019 and 2018.
(3) Net sales to external customers within the U.S. were $2,501.6 million, $2,402.3 million and $2,280.0 million for the years ended December 31, 2019, 2018 and 2017, respectively.
(4) Total long-lived assets represent total assets excluding total current assets, deferred tax assets, goodwill, intangible assets and non-current assets held for sale.
| | (In millions) | Net sales(1)(2) | North America(3) | EMEA | South America | APAC | Total | Total long-lived assets(1)(2)(4) | North America | EMEA | South America | APAC | Total |
| | 2019 | : | $ 2,828.1 | 1,010.4 | 233.8 | 718.8 | $ 4,791.1 | : | $ 919.3 | 345.8 | 50.2 | 248.3 | $ 1,563.6 |
| Year Ended December 31, | 2018 | : | $ 2,734.9 | 1,038.5 | 229.5 | 729.8 | $ 4,732.7 | : | $ 740.5 | 270.5 | 52.8 | 211.8 | $ 1,275.6 |
| | 2017 | : | $ 2,591.5 | 983.4 | 231.8 | 654.9 | $ 4,461.6 | : | | | | | | | What years are included in the table? | "2019", "2018", "2017" |
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