AveniBench datasets
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Datasets used in the AveniBench
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What would be the average net operating loss carryforward in 2018 and 2019 if the value in 2019 is decreased by $50,000? | [
"6081.5"
] | NOTE 13. INCOME TAXES We calculate our provision for federal and state income taxes based on current tax law. U.S. federal tax reform (Tax Act) was enacted on December 22, 2017, and has several key provisions impacting the accounting for and reporting of income taxes. The most significant provision reduced the U.S. corporate statutory tax rate from 35% to 21% beginning on January 1, 2018. We remeasured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. As a result, the gross deferred tax assets and liabilities were adjusted which resulted in an expense for income taxes of $7.1 million which was fully offset by a corresponding change to our valuation allowance in 2017. The Tax Act contains several base broadening provisions that became effective on January 1, 2018, that did not have a material impact on 2018 and 2019 earnings. Deferred tax asset (liability) is comprised of the following (in thousands): We have determined it is more likely than not that our deferred tax assets will not be realized. Accordingly, we have provided a valuation allowance for deferred tax assets. <table> <tbody> <tr><td>December 31</td><td></td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Net operating loss carryforwards</td><td>$7,672</td><td>$4,541</td></tr> <tr><td>Stock options and warrants</td><td>420</td><td>214</td></tr> <tr><td>Property</td><td>138</td><td>299</td></tr> <tr><td>Intangible assets</td><td>66</td><td>94</td></tr> <tr><td>Capitalized expenses</td><td>54</td><td>86</td></tr> <tr><td>Other</td><td>210</td><td>164</td></tr> <tr><td>Operating right-of-use lease assets</td><td>(667)</td><td></td></tr> <tr><td>Operating right-of-use lease liabilities</td><td>794</td><td></td></tr> <tr><td>Net deferred tax assets</td><td>8,687</td><td>5,398</td></tr> <tr><td>Less: Valuation allowance</td><td>(8,687)</td><td>(5,398)</td></tr> <tr><td>Deferred tax asset (liability)</td><td>$ -</td><td>$ -</td></tr> </tbody> </table> |
What would be the percentage change in net operating loss carryforward in 2018 and 2019 if the value in 2019 is increased by $500,000? | [
"79.96"
] | NOTE 13. INCOME TAXES We calculate our provision for federal and state income taxes based on current tax law. U.S. federal tax reform (Tax Act) was enacted on December 22, 2017, and has several key provisions impacting the accounting for and reporting of income taxes. The most significant provision reduced the U.S. corporate statutory tax rate from 35% to 21% beginning on January 1, 2018. We remeasured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. As a result, the gross deferred tax assets and liabilities were adjusted which resulted in an expense for income taxes of $7.1 million which was fully offset by a corresponding change to our valuation allowance in 2017. The Tax Act contains several base broadening provisions that became effective on January 1, 2018, that did not have a material impact on 2018 and 2019 earnings. Deferred tax asset (liability) is comprised of the following (in thousands): We have determined it is more likely than not that our deferred tax assets will not be realized. Accordingly, we have provided a valuation allowance for deferred tax assets. <table> <tbody> <tr><td>December 31</td><td></td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Net operating loss carryforwards</td><td>$7,672</td><td>$4,541</td></tr> <tr><td>Stock options and warrants</td><td>420</td><td>214</td></tr> <tr><td>Property</td><td>138</td><td>299</td></tr> <tr><td>Intangible assets</td><td>66</td><td>94</td></tr> <tr><td>Capitalized expenses</td><td>54</td><td>86</td></tr> <tr><td>Other</td><td>210</td><td>164</td></tr> <tr><td>Operating right-of-use lease assets</td><td>(667)</td><td></td></tr> <tr><td>Operating right-of-use lease liabilities</td><td>794</td><td></td></tr> <tr><td>Net deferred tax assets</td><td>8,687</td><td>5,398</td></tr> <tr><td>Less: Valuation allowance</td><td>(8,687)</td><td>(5,398)</td></tr> <tr><td>Deferred tax asset (liability)</td><td>$ -</td><td>$ -</td></tr> </tbody> </table> |
What would be the percentage change in the stock options and warrants between 2018 and 2019 if the amount in 2019 is increased by 10%? | [
"115.89"
] | NOTE 13. INCOME TAXES We calculate our provision for federal and state income taxes based on current tax law. U.S. federal tax reform (Tax Act) was enacted on December 22, 2017, and has several key provisions impacting the accounting for and reporting of income taxes. The most significant provision reduced the U.S. corporate statutory tax rate from 35% to 21% beginning on January 1, 2018. We remeasured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. As a result, the gross deferred tax assets and liabilities were adjusted which resulted in an expense for income taxes of $7.1 million which was fully offset by a corresponding change to our valuation allowance in 2017. The Tax Act contains several base broadening provisions that became effective on January 1, 2018, that did not have a material impact on 2018 and 2019 earnings. Deferred tax asset (liability) is comprised of the following (in thousands): We have determined it is more likely than not that our deferred tax assets will not be realized. Accordingly, we have provided a valuation allowance for deferred tax assets. <table> <tbody> <tr><td>December 31</td><td></td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Net operating loss carryforwards</td><td>$7,672</td><td>$4,541</td></tr> <tr><td>Stock options and warrants</td><td>420</td><td>214</td></tr> <tr><td>Property</td><td>138</td><td>299</td></tr> <tr><td>Intangible assets</td><td>66</td><td>94</td></tr> <tr><td>Capitalized expenses</td><td>54</td><td>86</td></tr> <tr><td>Other</td><td>210</td><td>164</td></tr> <tr><td>Operating right-of-use lease assets</td><td>(667)</td><td></td></tr> <tr><td>Operating right-of-use lease liabilities</td><td>794</td><td></td></tr> <tr><td>Net deferred tax assets</td><td>8,687</td><td>5,398</td></tr> <tr><td>Less: Valuation allowance</td><td>(8,687)</td><td>(5,398)</td></tr> <tr><td>Deferred tax asset (liability)</td><td>$ -</td><td>$ -</td></tr> </tbody> </table> |
What is the profit margin for the fourth quarter of 2019 if fourth quarter revenue was 105,000? | [
"21.31"
] | Revenues. Revenues increased by 9% to RMB105.8 billion for the fourth quarter of 2019 on a quarter-on-quarter basis. Revenues from VAS increased by 3% to RMB52,308 million for the fourth quarter of 2019. Online games revenues grew by 6% to RMB30,286 million. The increase was primarily due to revenue contributions from domestic smart phone titles such as Peacekeeper Elite, as well as revenues contributed from Supercell commencing in the fourth quarter of 2019, partly offset by the decrease in revenues from PC client games. Social networks revenues were RMB22,022 million, broadly stable compared to the third quarter of 2019. Revenues from FinTech and Business Services increased by 12% to RMB29,920 million for the fourth quarter of 2019. The increase mainly reflected the growth of commercial payment, social payment and cloud services. Revenues from Online Advertising increased by 10% to RMB20,225 million for the fourth quarter of 2019. Social and others advertising revenues grew by 11% to RMB16,274 million. The increase was primarily driven by greater revenues from our mobile advertising network and Weixin Moments, benefitting from the positive seasonality of eCommerce promotional activities in the fourth quarter. Media advertising revenues increased by 8% to RMB3,951 million. The increase mainly reflected greater advertising revenues from our media platforms including Tencent Video, Tencent News and TME. Cost of revenues. Cost of revenues increased by 9% to RMB59,659 million for the fourth quarter of 2019 on a quarter-onquarter basis. The increase was primarily driven by greater channel costs, costs of FinTech services and content costs. As a percentage of revenues, cost of revenues was 56% for the fourth quarter of 2019, broadly stable compared to the third quarter of 2019. Cost of revenues for VAS increased by 7% to RMB26,120 million for the fourth quarter of 2019. The increase was primarily due to greater content costs for live broadcast services and major eSport events, as well as higher channel and content costs for smart phone games, including the channel costs attributable to Supercell. Cost of revenues for FinTech and Business Services increased by 11% to RMB21,520 million for the fourth quarter of 2019. The increase mainly reflected greater costs from increased volume of payment activities and greater scale of cloud services. Cost of revenues for Online Advertising decreased by 2% to RMB9,241 million for the fourth quarter of 2019. The decrease was primarily driven by lower content costs for our advertising-funded long form video service, partly offset by traffic acquisition costs due to revenue growth from our advertising network. Selling and marketing expenses. Selling and marketing expenses increased by 17% to RMB6,712 million for the fourth quarter of 2019 on a quarter-on-quarter basis. The increase mainly reflected seasonally greater marketing spending on smart phone games and digital content services, as well as expenses attributable to Supercell. General and administrative expenses. General and administrative expenses increased by 18% to RMB16,002 million for the fourth quarter of 2019 on a quarter-on-quarter basis. The increase was mainly due to greater R&D expenses and staff costs, including expenses attributable to Supercell. Share of (loss)/profit of associates and joint ventures. We recorded share of losses of associates and joint ventures of RMB1,328 million for the fourth quarter of 2019, compared to share of profit of RMB234 million for the third quarter of 2019. The movement mainly reflected certain associates booking non-cash fair value changes to their investment portfolios. Profit attributable to equity holders of the Company. Profit attributable to equity holders of the Company increased by 6% to RMB21,582 million for the fourth quarter of 2019 on a quarter-on-quarter basis. Non-IFRS profit attributable to equity holders of the Company increased by 4% to RMB25,484 million. <table> <tbody> <tr><td></td><td>Unaudited</td><td></td></tr> <tr><td></td><td>Three months ended</td><td></td></tr> <tr><td></td><td>31 December</td><td>30 September</td></tr> <tr><td></td><td>2019</td><td>2019</td></tr> <tr><td></td><td>(RMB in millions)</td><td></td></tr> <tr><td>Revenues</td><td>105,767</td><td>97,236</td></tr> <tr><td>Cost of revenues</td><td>(59,659)</td><td>(54,757)</td></tr> <tr><td>Gross profit</td><td>46,108</td><td>42,479</td></tr> <tr><td>Interest income</td><td>1,580</td><td>1,674</td></tr> <tr><td>Other gains, net</td><td>3,630</td><td>932</td></tr> <tr><td>Selling and marketing expenses</td><td>(6,712)</td><td>(5,722)</td></tr> <tr><td>General and administrative expenses</td><td>(16,002)</td><td>(13,536)</td></tr> <tr><td>Operating profit</td><td>28,604</td><td>25,827</td></tr> <tr><td>Finance costs, net</td><td>(2,767)</td><td>(1,747)</td></tr> <tr><td>Share of (loss)/profit of associates and joint ventures</td><td>(1,328)</td><td>234</td></tr> <tr><td>Profit before income tax</td><td>24,509</td><td>24,314</td></tr> <tr><td>Income tax expense</td><td>(2,137)</td><td>(3,338)</td></tr> <tr><td>Profit for the period</td><td>22,372</td><td>20,976</td></tr> <tr><td>Attributable to:</td><td></td><td></td></tr> <tr><td>Equity holders of the Company</td><td>21,582</td><td>20,382</td></tr> <tr><td>Non-controlling interests</td><td>790</td><td>594</td></tr> <tr><td></td><td>22,372</td><td>20,976</td></tr> <tr><td>Non-IFRS profit attributable to equity holders of the Company</td><td>25,484</td><td>24,412</td></tr> </tbody> </table> |
What is the profit margin for the third quarter of 2019 if third quarter revenue was 98,000? | [
"21.4"
] | Revenues. Revenues increased by 9% to RMB105.8 billion for the fourth quarter of 2019 on a quarter-on-quarter basis. Revenues from VAS increased by 3% to RMB52,308 million for the fourth quarter of 2019. Online games revenues grew by 6% to RMB30,286 million. The increase was primarily due to revenue contributions from domestic smart phone titles such as Peacekeeper Elite, as well as revenues contributed from Supercell commencing in the fourth quarter of 2019, partly offset by the decrease in revenues from PC client games. Social networks revenues were RMB22,022 million, broadly stable compared to the third quarter of 2019. Revenues from FinTech and Business Services increased by 12% to RMB29,920 million for the fourth quarter of 2019. The increase mainly reflected the growth of commercial payment, social payment and cloud services. Revenues from Online Advertising increased by 10% to RMB20,225 million for the fourth quarter of 2019. Social and others advertising revenues grew by 11% to RMB16,274 million. The increase was primarily driven by greater revenues from our mobile advertising network and Weixin Moments, benefitting from the positive seasonality of eCommerce promotional activities in the fourth quarter. Media advertising revenues increased by 8% to RMB3,951 million. The increase mainly reflected greater advertising revenues from our media platforms including Tencent Video, Tencent News and TME. Cost of revenues. Cost of revenues increased by 9% to RMB59,659 million for the fourth quarter of 2019 on a quarter-onquarter basis. The increase was primarily driven by greater channel costs, costs of FinTech services and content costs. As a percentage of revenues, cost of revenues was 56% for the fourth quarter of 2019, broadly stable compared to the third quarter of 2019. Cost of revenues for VAS increased by 7% to RMB26,120 million for the fourth quarter of 2019. The increase was primarily due to greater content costs for live broadcast services and major eSport events, as well as higher channel and content costs for smart phone games, including the channel costs attributable to Supercell. Cost of revenues for FinTech and Business Services increased by 11% to RMB21,520 million for the fourth quarter of 2019. The increase mainly reflected greater costs from increased volume of payment activities and greater scale of cloud services. Cost of revenues for Online Advertising decreased by 2% to RMB9,241 million for the fourth quarter of 2019. The decrease was primarily driven by lower content costs for our advertising-funded long form video service, partly offset by traffic acquisition costs due to revenue growth from our advertising network. Selling and marketing expenses. Selling and marketing expenses increased by 17% to RMB6,712 million for the fourth quarter of 2019 on a quarter-on-quarter basis. The increase mainly reflected seasonally greater marketing spending on smart phone games and digital content services, as well as expenses attributable to Supercell. General and administrative expenses. General and administrative expenses increased by 18% to RMB16,002 million for the fourth quarter of 2019 on a quarter-on-quarter basis. The increase was mainly due to greater R&D expenses and staff costs, including expenses attributable to Supercell. Share of (loss)/profit of associates and joint ventures. We recorded share of losses of associates and joint ventures of RMB1,328 million for the fourth quarter of 2019, compared to share of profit of RMB234 million for the third quarter of 2019. The movement mainly reflected certain associates booking non-cash fair value changes to their investment portfolios. Profit attributable to equity holders of the Company. Profit attributable to equity holders of the Company increased by 6% to RMB21,582 million for the fourth quarter of 2019 on a quarter-on-quarter basis. Non-IFRS profit attributable to equity holders of the Company increased by 4% to RMB25,484 million. <table> <tbody> <tr><td></td><td>Unaudited</td><td></td></tr> <tr><td></td><td>Three months ended</td><td></td></tr> <tr><td></td><td>31 December</td><td>30 September</td></tr> <tr><td></td><td>2019</td><td>2019</td></tr> <tr><td></td><td>(RMB in millions)</td><td></td></tr> <tr><td>Revenues</td><td>105,767</td><td>97,236</td></tr> <tr><td>Cost of revenues</td><td>(59,659)</td><td>(54,757)</td></tr> <tr><td>Gross profit</td><td>46,108</td><td>42,479</td></tr> <tr><td>Interest income</td><td>1,580</td><td>1,674</td></tr> <tr><td>Other gains, net</td><td>3,630</td><td>932</td></tr> <tr><td>Selling and marketing expenses</td><td>(6,712)</td><td>(5,722)</td></tr> <tr><td>General and administrative expenses</td><td>(16,002)</td><td>(13,536)</td></tr> <tr><td>Operating profit</td><td>28,604</td><td>25,827</td></tr> <tr><td>Finance costs, net</td><td>(2,767)</td><td>(1,747)</td></tr> <tr><td>Share of (loss)/profit of associates and joint ventures</td><td>(1,328)</td><td>234</td></tr> <tr><td>Profit before income tax</td><td>24,509</td><td>24,314</td></tr> <tr><td>Income tax expense</td><td>(2,137)</td><td>(3,338)</td></tr> <tr><td>Profit for the period</td><td>22,372</td><td>20,976</td></tr> <tr><td>Attributable to:</td><td></td><td></td></tr> <tr><td>Equity holders of the Company</td><td>21,582</td><td>20,382</td></tr> <tr><td>Non-controlling interests</td><td>790</td><td>594</td></tr> <tr><td></td><td>22,372</td><td>20,976</td></tr> <tr><td>Non-IFRS profit attributable to equity holders of the Company</td><td>25,484</td><td>24,412</td></tr> </tbody> </table> |
How much is the profits attributable to non-controlling interests if profits attributable to equity holders of the company made up 97% of the fourth quarter profits? | [
"671.16"
] | Revenues. Revenues increased by 9% to RMB105.8 billion for the fourth quarter of 2019 on a quarter-on-quarter basis. Revenues from VAS increased by 3% to RMB52,308 million for the fourth quarter of 2019. Online games revenues grew by 6% to RMB30,286 million. The increase was primarily due to revenue contributions from domestic smart phone titles such as Peacekeeper Elite, as well as revenues contributed from Supercell commencing in the fourth quarter of 2019, partly offset by the decrease in revenues from PC client games. Social networks revenues were RMB22,022 million, broadly stable compared to the third quarter of 2019. Revenues from FinTech and Business Services increased by 12% to RMB29,920 million for the fourth quarter of 2019. The increase mainly reflected the growth of commercial payment, social payment and cloud services. Revenues from Online Advertising increased by 10% to RMB20,225 million for the fourth quarter of 2019. Social and others advertising revenues grew by 11% to RMB16,274 million. The increase was primarily driven by greater revenues from our mobile advertising network and Weixin Moments, benefitting from the positive seasonality of eCommerce promotional activities in the fourth quarter. Media advertising revenues increased by 8% to RMB3,951 million. The increase mainly reflected greater advertising revenues from our media platforms including Tencent Video, Tencent News and TME. Cost of revenues. Cost of revenues increased by 9% to RMB59,659 million for the fourth quarter of 2019 on a quarter-onquarter basis. The increase was primarily driven by greater channel costs, costs of FinTech services and content costs. As a percentage of revenues, cost of revenues was 56% for the fourth quarter of 2019, broadly stable compared to the third quarter of 2019. Cost of revenues for VAS increased by 7% to RMB26,120 million for the fourth quarter of 2019. The increase was primarily due to greater content costs for live broadcast services and major eSport events, as well as higher channel and content costs for smart phone games, including the channel costs attributable to Supercell. Cost of revenues for FinTech and Business Services increased by 11% to RMB21,520 million for the fourth quarter of 2019. The increase mainly reflected greater costs from increased volume of payment activities and greater scale of cloud services. Cost of revenues for Online Advertising decreased by 2% to RMB9,241 million for the fourth quarter of 2019. The decrease was primarily driven by lower content costs for our advertising-funded long form video service, partly offset by traffic acquisition costs due to revenue growth from our advertising network. Selling and marketing expenses. Selling and marketing expenses increased by 17% to RMB6,712 million for the fourth quarter of 2019 on a quarter-on-quarter basis. The increase mainly reflected seasonally greater marketing spending on smart phone games and digital content services, as well as expenses attributable to Supercell. General and administrative expenses. General and administrative expenses increased by 18% to RMB16,002 million for the fourth quarter of 2019 on a quarter-on-quarter basis. The increase was mainly due to greater R&D expenses and staff costs, including expenses attributable to Supercell. Share of (loss)/profit of associates and joint ventures. We recorded share of losses of associates and joint ventures of RMB1,328 million for the fourth quarter of 2019, compared to share of profit of RMB234 million for the third quarter of 2019. The movement mainly reflected certain associates booking non-cash fair value changes to their investment portfolios. Profit attributable to equity holders of the Company. Profit attributable to equity holders of the Company increased by 6% to RMB21,582 million for the fourth quarter of 2019 on a quarter-on-quarter basis. Non-IFRS profit attributable to equity holders of the Company increased by 4% to RMB25,484 million. <table> <tbody> <tr><td></td><td>Unaudited</td><td></td></tr> <tr><td></td><td>Three months ended</td><td></td></tr> <tr><td></td><td>31 December</td><td>30 September</td></tr> <tr><td></td><td>2019</td><td>2019</td></tr> <tr><td></td><td>(RMB in millions)</td><td></td></tr> <tr><td>Revenues</td><td>105,767</td><td>97,236</td></tr> <tr><td>Cost of revenues</td><td>(59,659)</td><td>(54,757)</td></tr> <tr><td>Gross profit</td><td>46,108</td><td>42,479</td></tr> <tr><td>Interest income</td><td>1,580</td><td>1,674</td></tr> <tr><td>Other gains, net</td><td>3,630</td><td>932</td></tr> <tr><td>Selling and marketing expenses</td><td>(6,712)</td><td>(5,722)</td></tr> <tr><td>General and administrative expenses</td><td>(16,002)</td><td>(13,536)</td></tr> <tr><td>Operating profit</td><td>28,604</td><td>25,827</td></tr> <tr><td>Finance costs, net</td><td>(2,767)</td><td>(1,747)</td></tr> <tr><td>Share of (loss)/profit of associates and joint ventures</td><td>(1,328)</td><td>234</td></tr> <tr><td>Profit before income tax</td><td>24,509</td><td>24,314</td></tr> <tr><td>Income tax expense</td><td>(2,137)</td><td>(3,338)</td></tr> <tr><td>Profit for the period</td><td>22,372</td><td>20,976</td></tr> <tr><td>Attributable to:</td><td></td><td></td></tr> <tr><td>Equity holders of the Company</td><td>21,582</td><td>20,382</td></tr> <tr><td>Non-controlling interests</td><td>790</td><td>594</td></tr> <tr><td></td><td>22,372</td><td>20,976</td></tr> <tr><td>Non-IFRS profit attributable to equity holders of the Company</td><td>25,484</td><td>24,412</td></tr> </tbody> </table> |
What percentage of the total stock based compensation is spent on the cost of sales if the amount spent on cost of sales is tripled? | [
"2.65"
] | The following table summarizes stock-based compensation expense in the Company’s consolidated statements of operations: For the year ended September 30, 2019, the Company granted 33,000 nonvested shares to certain key employees, 55,000 nonvested shares to certain officers including 35,000 shares granted to the Chief Executive Officer, and 20,000 nonvested shares to its non-employee directors. For the year ended September 30, 2018, the Company granted 12,000 nonvested shares to certain key employees, 40,000 nonvested shares to certain officers including 30,000 to its Chief Executive Officer and 20,000 nonvested shares to its non-employee directors. The Company measures the fair value of nonvested stock awards based upon the market price of its common stock as of the date of grant. The Company used the Black-Scholes option-pricing model to value stock options. The Black-Scholes model requires the use of a number of assumptions including volatility of the Company’s stock price, the weighted average risk-free interest rate and the weighted average expected life of the options, at the time of grant. The expected dividend yield is equal to the divided per share declared, divided by the closing share price on the date the options were granted. All equity compensation awards granted for the years ended September 30, 2019 and September 30, 2018 were nonvested stock awards. <table> <tbody> <tr><td></td><td>Years Ended</td><td></td></tr> <tr><td></td><td>September 30, 2019</td><td>September 30, 2018</td></tr> <tr><td></td><td>(Amounts in thousands)</td><td></td></tr> <tr><td>Cost of sales</td><td>$7</td><td>$5</td></tr> <tr><td>Engineering and development</td><td>49</td><td>32</td></tr> <tr><td>Selling, general and administrative</td><td>736</td><td>654</td></tr> <tr><td>Total</td><td>$792</td><td>$691</td></tr> </tbody> </table> |
What is the percentage increase in the stock based compensation expense on cost of sales if the expense for the year ended September 30 2018 increased by 1 thousand? | [
"16.67"
] | The following table summarizes stock-based compensation expense in the Company’s consolidated statements of operations: For the year ended September 30, 2019, the Company granted 33,000 nonvested shares to certain key employees, 55,000 nonvested shares to certain officers including 35,000 shares granted to the Chief Executive Officer, and 20,000 nonvested shares to its non-employee directors. For the year ended September 30, 2018, the Company granted 12,000 nonvested shares to certain key employees, 40,000 nonvested shares to certain officers including 30,000 to its Chief Executive Officer and 20,000 nonvested shares to its non-employee directors. The Company measures the fair value of nonvested stock awards based upon the market price of its common stock as of the date of grant. The Company used the Black-Scholes option-pricing model to value stock options. The Black-Scholes model requires the use of a number of assumptions including volatility of the Company’s stock price, the weighted average risk-free interest rate and the weighted average expected life of the options, at the time of grant. The expected dividend yield is equal to the divided per share declared, divided by the closing share price on the date the options were granted. All equity compensation awards granted for the years ended September 30, 2019 and September 30, 2018 were nonvested stock awards. <table> <tbody> <tr><td></td><td>Years Ended</td><td></td></tr> <tr><td></td><td>September 30, 2019</td><td>September 30, 2018</td></tr> <tr><td></td><td>(Amounts in thousands)</td><td></td></tr> <tr><td>Cost of sales</td><td>$7</td><td>$5</td></tr> <tr><td>Engineering and development</td><td>49</td><td>32</td></tr> <tr><td>Selling, general and administrative</td><td>736</td><td>654</td></tr> <tr><td>Total</td><td>$792</td><td>$691</td></tr> </tbody> </table> |
What is the total stock based compensation expense on non-cost of sales related activities if the expense on selling, general and administrative activities increased by 5 thousand? | [
"790"
] | The following table summarizes stock-based compensation expense in the Company’s consolidated statements of operations: For the year ended September 30, 2019, the Company granted 33,000 nonvested shares to certain key employees, 55,000 nonvested shares to certain officers including 35,000 shares granted to the Chief Executive Officer, and 20,000 nonvested shares to its non-employee directors. For the year ended September 30, 2018, the Company granted 12,000 nonvested shares to certain key employees, 40,000 nonvested shares to certain officers including 30,000 to its Chief Executive Officer and 20,000 nonvested shares to its non-employee directors. The Company measures the fair value of nonvested stock awards based upon the market price of its common stock as of the date of grant. The Company used the Black-Scholes option-pricing model to value stock options. The Black-Scholes model requires the use of a number of assumptions including volatility of the Company’s stock price, the weighted average risk-free interest rate and the weighted average expected life of the options, at the time of grant. The expected dividend yield is equal to the divided per share declared, divided by the closing share price on the date the options were granted. All equity compensation awards granted for the years ended September 30, 2019 and September 30, 2018 were nonvested stock awards. <table> <tbody> <tr><td></td><td>Years Ended</td><td></td></tr> <tr><td></td><td>September 30, 2019</td><td>September 30, 2018</td></tr> <tr><td></td><td>(Amounts in thousands)</td><td></td></tr> <tr><td>Cost of sales</td><td>$7</td><td>$5</td></tr> <tr><td>Engineering and development</td><td>49</td><td>32</td></tr> <tr><td>Selling, general and administrative</td><td>736</td><td>654</td></tr> <tr><td>Total</td><td>$792</td><td>$691</td></tr> </tbody> </table> |
If the trade payables in 2019 increased to 12,000, what will be the average? | [
"11632.95"
] | A.6.1 Capital structure The increase in short-term debt and current maturities of long-term debt was due mainly to reclassifications of long-term euro and U. S. dollar instruments totaling € 3.9 billion from longterm debt. This was partly offset by € 3.3 billion resulting from the repayment of U. S. dollar instruments. The decrease in current income tax liabilities was driven mainly by the reversal of income tax provisions outside Germany and tax payments in the context of the carve-out activities related to Siemens Healthineers. Long-term debt increased due primarily to the issuance of euro instruments totaling € 6.5 billion and currency translation effects for bonds issued in the U. S. dollar. This was partly offset by the above-mentioned reclassifications of euro and U. S. dollar instruments. The increase in provisions for pensions and similar obligations was due mainly to a lower discount rate. This effect was partly offset by a positive return on plan assets, among other factors. The main factors for the increase in total equity attributable to shareholders of Siemens AG were € 5.2 billion in net income attributable to shareholders of Siemens AG; the re-issuance of treasury shares of € 1.6 billion; and positive other comprehensive income, net of income taxes of € 0.4 billion, resulting mainly from positive currency translation effects of € 1.8 billion, partly offset by negative effects from remeasurements of defined benefit plans of € 1.1 billion. This increase was partly offset by dividend payments of € 3.1 billion (for fiscal 2018) and the repurchase of 13,532,557 treasury shares at an average cost per share of € 99.78, totaling € 1.4 billion (including incidental transaction charges). <table> <tbody> <tr><td></td><td></td><td>Sep 30,</td><td></td></tr> <tr><td>(in millions of €)</td><td>2019</td><td>2018</td><td>% Change</td></tr> <tr><td>Short-term debt and current maturities of long-term debt</td><td>6,034</td><td>5,057</td><td>19 %</td></tr> <tr><td>Trade payables</td><td>11,409</td><td>10,716</td><td>6 %</td></tr> <tr><td>Other current financial liabilities</td><td>1,743</td><td>1,485</td><td>17 %</td></tr> <tr><td>Contract liabilities</td><td>16,452</td><td>14,464</td><td>14 %</td></tr> <tr><td>Current provisions</td><td>3,682</td><td>3,931</td><td>(6) %</td></tr> <tr><td>Current income tax liabilities</td><td>2,378</td><td>3,102</td><td>(23) %</td></tr> <tr><td>Other current liabilities</td><td>9,023</td><td>9,118</td><td>(1) %</td></tr> <tr><td>Liabilities associated with assets classified as held for disposal</td><td>2</td><td>1</td><td>54 %</td></tr> <tr><td>Total current liabilities</td><td>50,723</td><td>47,874</td><td>6 %</td></tr> <tr><td>Long-term debt</td><td>30,414</td><td>27,120</td><td>12 %</td></tr> <tr><td>Provisions for pensions and similar obligations</td><td>9,896</td><td>7,684</td><td>29 %</td></tr> <tr><td>Deferred tax liabilities</td><td>1,305</td><td>1,092</td><td>19 %</td></tr> <tr><td>Provisions</td><td>3,714</td><td>4,216</td><td>(12) %</td></tr> <tr><td>Other financial liabilities</td><td>986</td><td>685</td><td>44 %</td></tr> <tr><td>Other liabilities</td><td>2,226</td><td>2,198</td><td>1 %</td></tr> <tr><td>Total non-current liabilities</td><td>48,541</td><td>42,995</td><td>13 %</td></tr> <tr><td>Total liabilities</td><td>99,265</td><td>90,869</td><td>9 %</td></tr> <tr><td>Debt ratio</td><td>66 %</td><td>65 %</td><td></td></tr> <tr><td>Total equity attributable to shareholders of Siemens AG</td><td>48,125</td><td>45,474</td><td>6 %</td></tr> <tr><td>Equity ratio</td><td>34 %</td><td>35 %</td><td></td></tr> <tr><td>Non-controlling interests</td><td>2,858</td><td>2,573</td><td>11 %</td></tr> <tr><td>Total liabilities and equity</td><td>150,248</td><td>138,915</td><td>8 %</td></tr> <tr><td></td><td></td><td></td><td></td></tr> </tbody> </table> |
If the total current liabilities in 2019 decreases by 5%, what is the increase / (decrease) in total current liabilities from 2018 to 2019? | [
"312.85"
] | A.6.1 Capital structure The increase in short-term debt and current maturities of long-term debt was due mainly to reclassifications of long-term euro and U. S. dollar instruments totaling € 3.9 billion from longterm debt. This was partly offset by € 3.3 billion resulting from the repayment of U. S. dollar instruments. The decrease in current income tax liabilities was driven mainly by the reversal of income tax provisions outside Germany and tax payments in the context of the carve-out activities related to Siemens Healthineers. Long-term debt increased due primarily to the issuance of euro instruments totaling € 6.5 billion and currency translation effects for bonds issued in the U. S. dollar. This was partly offset by the above-mentioned reclassifications of euro and U. S. dollar instruments. The increase in provisions for pensions and similar obligations was due mainly to a lower discount rate. This effect was partly offset by a positive return on plan assets, among other factors. The main factors for the increase in total equity attributable to shareholders of Siemens AG were € 5.2 billion in net income attributable to shareholders of Siemens AG; the re-issuance of treasury shares of € 1.6 billion; and positive other comprehensive income, net of income taxes of € 0.4 billion, resulting mainly from positive currency translation effects of € 1.8 billion, partly offset by negative effects from remeasurements of defined benefit plans of € 1.1 billion. This increase was partly offset by dividend payments of € 3.1 billion (for fiscal 2018) and the repurchase of 13,532,557 treasury shares at an average cost per share of € 99.78, totaling € 1.4 billion (including incidental transaction charges). <table> <tbody> <tr><td></td><td></td><td>Sep 30,</td><td></td></tr> <tr><td>(in millions of €)</td><td>2019</td><td>2018</td><td>% Change</td></tr> <tr><td>Short-term debt and current maturities of long-term debt</td><td>6,034</td><td>5,057</td><td>19 %</td></tr> <tr><td>Trade payables</td><td>11,409</td><td>10,716</td><td>6 %</td></tr> <tr><td>Other current financial liabilities</td><td>1,743</td><td>1,485</td><td>17 %</td></tr> <tr><td>Contract liabilities</td><td>16,452</td><td>14,464</td><td>14 %</td></tr> <tr><td>Current provisions</td><td>3,682</td><td>3,931</td><td>(6) %</td></tr> <tr><td>Current income tax liabilities</td><td>2,378</td><td>3,102</td><td>(23) %</td></tr> <tr><td>Other current liabilities</td><td>9,023</td><td>9,118</td><td>(1) %</td></tr> <tr><td>Liabilities associated with assets classified as held for disposal</td><td>2</td><td>1</td><td>54 %</td></tr> <tr><td>Total current liabilities</td><td>50,723</td><td>47,874</td><td>6 %</td></tr> <tr><td>Long-term debt</td><td>30,414</td><td>27,120</td><td>12 %</td></tr> <tr><td>Provisions for pensions and similar obligations</td><td>9,896</td><td>7,684</td><td>29 %</td></tr> <tr><td>Deferred tax liabilities</td><td>1,305</td><td>1,092</td><td>19 %</td></tr> <tr><td>Provisions</td><td>3,714</td><td>4,216</td><td>(12) %</td></tr> <tr><td>Other financial liabilities</td><td>986</td><td>685</td><td>44 %</td></tr> <tr><td>Other liabilities</td><td>2,226</td><td>2,198</td><td>1 %</td></tr> <tr><td>Total non-current liabilities</td><td>48,541</td><td>42,995</td><td>13 %</td></tr> <tr><td>Total liabilities</td><td>99,265</td><td>90,869</td><td>9 %</td></tr> <tr><td>Debt ratio</td><td>66 %</td><td>65 %</td><td></td></tr> <tr><td>Total equity attributable to shareholders of Siemens AG</td><td>48,125</td><td>45,474</td><td>6 %</td></tr> <tr><td>Equity ratio</td><td>34 %</td><td>35 %</td><td></td></tr> <tr><td>Non-controlling interests</td><td>2,858</td><td>2,573</td><td>11 %</td></tr> <tr><td>Total liabilities and equity</td><td>150,248</td><td>138,915</td><td>8 %</td></tr> <tr><td></td><td></td><td></td><td></td></tr> </tbody> </table> |
If total liabilities and equity increases to 160,000 what will be the revised increase / (decrease)? | [
"15.18"
] | A.6.1 Capital structure The increase in short-term debt and current maturities of long-term debt was due mainly to reclassifications of long-term euro and U. S. dollar instruments totaling € 3.9 billion from longterm debt. This was partly offset by € 3.3 billion resulting from the repayment of U. S. dollar instruments. The decrease in current income tax liabilities was driven mainly by the reversal of income tax provisions outside Germany and tax payments in the context of the carve-out activities related to Siemens Healthineers. Long-term debt increased due primarily to the issuance of euro instruments totaling € 6.5 billion and currency translation effects for bonds issued in the U. S. dollar. This was partly offset by the above-mentioned reclassifications of euro and U. S. dollar instruments. The increase in provisions for pensions and similar obligations was due mainly to a lower discount rate. This effect was partly offset by a positive return on plan assets, among other factors. The main factors for the increase in total equity attributable to shareholders of Siemens AG were € 5.2 billion in net income attributable to shareholders of Siemens AG; the re-issuance of treasury shares of € 1.6 billion; and positive other comprehensive income, net of income taxes of € 0.4 billion, resulting mainly from positive currency translation effects of € 1.8 billion, partly offset by negative effects from remeasurements of defined benefit plans of € 1.1 billion. This increase was partly offset by dividend payments of € 3.1 billion (for fiscal 2018) and the repurchase of 13,532,557 treasury shares at an average cost per share of € 99.78, totaling € 1.4 billion (including incidental transaction charges). <table> <tbody> <tr><td></td><td></td><td>Sep 30,</td><td></td></tr> <tr><td>(in millions of €)</td><td>2019</td><td>2018</td><td>% Change</td></tr> <tr><td>Short-term debt and current maturities of long-term debt</td><td>6,034</td><td>5,057</td><td>19 %</td></tr> <tr><td>Trade payables</td><td>11,409</td><td>10,716</td><td>6 %</td></tr> <tr><td>Other current financial liabilities</td><td>1,743</td><td>1,485</td><td>17 %</td></tr> <tr><td>Contract liabilities</td><td>16,452</td><td>14,464</td><td>14 %</td></tr> <tr><td>Current provisions</td><td>3,682</td><td>3,931</td><td>(6) %</td></tr> <tr><td>Current income tax liabilities</td><td>2,378</td><td>3,102</td><td>(23) %</td></tr> <tr><td>Other current liabilities</td><td>9,023</td><td>9,118</td><td>(1) %</td></tr> <tr><td>Liabilities associated with assets classified as held for disposal</td><td>2</td><td>1</td><td>54 %</td></tr> <tr><td>Total current liabilities</td><td>50,723</td><td>47,874</td><td>6 %</td></tr> <tr><td>Long-term debt</td><td>30,414</td><td>27,120</td><td>12 %</td></tr> <tr><td>Provisions for pensions and similar obligations</td><td>9,896</td><td>7,684</td><td>29 %</td></tr> <tr><td>Deferred tax liabilities</td><td>1,305</td><td>1,092</td><td>19 %</td></tr> <tr><td>Provisions</td><td>3,714</td><td>4,216</td><td>(12) %</td></tr> <tr><td>Other financial liabilities</td><td>986</td><td>685</td><td>44 %</td></tr> <tr><td>Other liabilities</td><td>2,226</td><td>2,198</td><td>1 %</td></tr> <tr><td>Total non-current liabilities</td><td>48,541</td><td>42,995</td><td>13 %</td></tr> <tr><td>Total liabilities</td><td>99,265</td><td>90,869</td><td>9 %</td></tr> <tr><td>Debt ratio</td><td>66 %</td><td>65 %</td><td></td></tr> <tr><td>Total equity attributable to shareholders of Siemens AG</td><td>48,125</td><td>45,474</td><td>6 %</td></tr> <tr><td>Equity ratio</td><td>34 %</td><td>35 %</td><td></td></tr> <tr><td>Non-controlling interests</td><td>2,858</td><td>2,573</td><td>11 %</td></tr> <tr><td>Total liabilities and equity</td><td>150,248</td><td>138,915</td><td>8 %</td></tr> <tr><td></td><td></td><td></td><td></td></tr> </tbody> </table> |
In what year would the number of RSUs and cash-based awards outstanding at the end of the year be larger if the number in 2019 was 14,346 thousand instead? | [
"2018"
] | Restricted Share Units The following table illustrates the number and WASP on date of award, and movements in, restricted share units (“RSUs”) and cash-based awards granted under the 2015 LTIP: RSUs and cash-based awards have a vesting period between two to five years, with no award vesting within the first 12 months of the grant. <table> <tbody> <tr><td></td><td>Year-ended 31 March 2019</td><td></td><td>Year-ended 31 March 2018</td><td></td></tr> <tr><td></td><td>Number</td><td>WASP</td><td>Number</td><td>WASP</td></tr> <tr><td>Restricted share units</td><td>000’s</td><td>£ pence</td><td>000’s</td><td>£ pence</td></tr> <tr><td>Outstanding at the start of the year</td><td>14,840</td><td>316.09</td><td>15,350</td><td>215.92</td></tr> <tr><td>Awarded</td><td>8,749</td><td>478.44</td><td>6,337</td><td>453.14</td></tr> <tr><td>Forfeited</td><td>(1,421)</td><td>426.11</td><td>(1,421)</td><td>284.15</td></tr> <tr><td>Released</td><td>(6,822)</td><td>309.77</td><td>(5,426)</td><td>218.49</td></tr> <tr><td>Outstanding at the end of the year</td><td>15,346</td><td>401.27</td><td>14,840</td><td>316.09</td></tr> </tbody> </table> |
What would the change in the number of RSUs and cash-based awards outstanding at the end of the year in 2019 from 2018 be if the amount in 2019 was 15,340 thousand instead? | [
"500"
] | Restricted Share Units The following table illustrates the number and WASP on date of award, and movements in, restricted share units (“RSUs”) and cash-based awards granted under the 2015 LTIP: RSUs and cash-based awards have a vesting period between two to five years, with no award vesting within the first 12 months of the grant. <table> <tbody> <tr><td></td><td>Year-ended 31 March 2019</td><td></td><td>Year-ended 31 March 2018</td><td></td></tr> <tr><td></td><td>Number</td><td>WASP</td><td>Number</td><td>WASP</td></tr> <tr><td>Restricted share units</td><td>000’s</td><td>£ pence</td><td>000’s</td><td>£ pence</td></tr> <tr><td>Outstanding at the start of the year</td><td>14,840</td><td>316.09</td><td>15,350</td><td>215.92</td></tr> <tr><td>Awarded</td><td>8,749</td><td>478.44</td><td>6,337</td><td>453.14</td></tr> <tr><td>Forfeited</td><td>(1,421)</td><td>426.11</td><td>(1,421)</td><td>284.15</td></tr> <tr><td>Released</td><td>(6,822)</td><td>309.77</td><td>(5,426)</td><td>218.49</td></tr> <tr><td>Outstanding at the end of the year</td><td>15,346</td><td>401.27</td><td>14,840</td><td>316.09</td></tr> </tbody> </table> |
What would the percentage change in the number of RSUs and cash-based awards outstanding at the end of the year in 2019 from 2018 be if the amount in 2019 was 15,340 thousand instead? | [
"3.37"
] | Restricted Share Units The following table illustrates the number and WASP on date of award, and movements in, restricted share units (“RSUs”) and cash-based awards granted under the 2015 LTIP: RSUs and cash-based awards have a vesting period between two to five years, with no award vesting within the first 12 months of the grant. <table> <tbody> <tr><td></td><td>Year-ended 31 March 2019</td><td></td><td>Year-ended 31 March 2018</td><td></td></tr> <tr><td></td><td>Number</td><td>WASP</td><td>Number</td><td>WASP</td></tr> <tr><td>Restricted share units</td><td>000’s</td><td>£ pence</td><td>000’s</td><td>£ pence</td></tr> <tr><td>Outstanding at the start of the year</td><td>14,840</td><td>316.09</td><td>15,350</td><td>215.92</td></tr> <tr><td>Awarded</td><td>8,749</td><td>478.44</td><td>6,337</td><td>453.14</td></tr> <tr><td>Forfeited</td><td>(1,421)</td><td>426.11</td><td>(1,421)</td><td>284.15</td></tr> <tr><td>Released</td><td>(6,822)</td><td>309.77</td><td>(5,426)</td><td>218.49</td></tr> <tr><td>Outstanding at the end of the year</td><td>15,346</td><td>401.27</td><td>14,840</td><td>316.09</td></tr> </tbody> </table> |
What would be the average operating revenue if operating revenue for FY19 is 232.4 million? | [
"231.6"
] | Financials 1. EBITDA is a non-IFRS term, defined as earnings before interest, tax, depreciation and amortisation, and excluding net foreign exchange gains (losses). 2. NPATA is a non-IFRS term, defined as net profit after tax, excluding tax-effected amortisation of acquired intangibles. This is used to determine EPSa as disclosed here and in the audited Remuneration Report. 3. Underlying EBITDA, underlying NPAT and underlying NPATA exclude separately disclosed items, which represent the transaction and other restructuring costs associated with the Sigma acquisition (2018: Enoro acquisition) and the exiting of a premises lease in the Americas. Further details of the separately disclosed items are outlined in Note 4 to the Financial Report. Operating revenue for FY19 was $231.3 million, $0.5 million up on FY18. With Sigma contributing $5.0 million of revenue in June (the first month since acquisition), revenues for the remainder of Hansen excluding Sigma were $4.5 million lower. This decline was a result of lower non-recurring revenues, due primarily to both lower one-off licence fees and reduced project work following the large body of work completed in the first half of FY18 associated with implementing Power of Choice in Australia. Conversely, recurring revenues grew to represent 63% of total operating revenue. Underlying EBITDA for the year was $55.8 million, 7.0% down on the $60.0 million in FY18. This resulted in an underlying EBITDA margin decline to 24.1% from 26.0% in FY18. Sigma only contributed a modest $0.1 million of EBITDA in June, which we do not see as representative of the business going forward. Excluding Sigma, the underlying EBITDA margin was 24.6%. This reduced margin was the direct result of the lower non-recurring revenue, as we were able to maintain operating expenses at the same level as FY18, even after the investment in the Vietnam Development Centre. <table> <tbody> <tr><td>A$ Million</td><td>FY19</td><td>FY18</td><td>Variance %</td></tr> <tr><td>Operating revenue</td><td>231.3</td><td>230.8</td><td>0.2%</td></tr> <tr><td>Underlying EBITDA 1, 3</td><td>55.8</td><td>60.0</td><td>(7.0%)</td></tr> <tr><td>Underlying NPAT 3</td><td>24.0</td><td>29.5</td><td>(18.7%)</td></tr> <tr><td>Underlying NPATA 2, 3</td><td>33.7</td><td>38.7</td><td>(12.9%)</td></tr> <tr><td>Basic EPS based on underlying NPATA (cents) 2</td><td>17.1</td><td>19.8</td><td>(13.6%)</td></tr> </tbody> </table> |
What would be the difference between EBITDA and NPAT for FY18 if EBITDA for FY18 is now equal to that of FY19? | [
"26.3"
] | Financials 1. EBITDA is a non-IFRS term, defined as earnings before interest, tax, depreciation and amortisation, and excluding net foreign exchange gains (losses). 2. NPATA is a non-IFRS term, defined as net profit after tax, excluding tax-effected amortisation of acquired intangibles. This is used to determine EPSa as disclosed here and in the audited Remuneration Report. 3. Underlying EBITDA, underlying NPAT and underlying NPATA exclude separately disclosed items, which represent the transaction and other restructuring costs associated with the Sigma acquisition (2018: Enoro acquisition) and the exiting of a premises lease in the Americas. Further details of the separately disclosed items are outlined in Note 4 to the Financial Report. Operating revenue for FY19 was $231.3 million, $0.5 million up on FY18. With Sigma contributing $5.0 million of revenue in June (the first month since acquisition), revenues for the remainder of Hansen excluding Sigma were $4.5 million lower. This decline was a result of lower non-recurring revenues, due primarily to both lower one-off licence fees and reduced project work following the large body of work completed in the first half of FY18 associated with implementing Power of Choice in Australia. Conversely, recurring revenues grew to represent 63% of total operating revenue. Underlying EBITDA for the year was $55.8 million, 7.0% down on the $60.0 million in FY18. This resulted in an underlying EBITDA margin decline to 24.1% from 26.0% in FY18. Sigma only contributed a modest $0.1 million of EBITDA in June, which we do not see as representative of the business going forward. Excluding Sigma, the underlying EBITDA margin was 24.6%. This reduced margin was the direct result of the lower non-recurring revenue, as we were able to maintain operating expenses at the same level as FY18, even after the investment in the Vietnam Development Centre. <table> <tbody> <tr><td>A$ Million</td><td>FY19</td><td>FY18</td><td>Variance %</td></tr> <tr><td>Operating revenue</td><td>231.3</td><td>230.8</td><td>0.2%</td></tr> <tr><td>Underlying EBITDA 1, 3</td><td>55.8</td><td>60.0</td><td>(7.0%)</td></tr> <tr><td>Underlying NPAT 3</td><td>24.0</td><td>29.5</td><td>(18.7%)</td></tr> <tr><td>Underlying NPATA 2, 3</td><td>33.7</td><td>38.7</td><td>(12.9%)</td></tr> <tr><td>Basic EPS based on underlying NPATA (cents) 2</td><td>17.1</td><td>19.8</td><td>(13.6%)</td></tr> </tbody> </table> |
What would be the average basic EPS if basic EPS for FY19 is 30% higher? | [
"21.02"
] | Financials 1. EBITDA is a non-IFRS term, defined as earnings before interest, tax, depreciation and amortisation, and excluding net foreign exchange gains (losses). 2. NPATA is a non-IFRS term, defined as net profit after tax, excluding tax-effected amortisation of acquired intangibles. This is used to determine EPSa as disclosed here and in the audited Remuneration Report. 3. Underlying EBITDA, underlying NPAT and underlying NPATA exclude separately disclosed items, which represent the transaction and other restructuring costs associated with the Sigma acquisition (2018: Enoro acquisition) and the exiting of a premises lease in the Americas. Further details of the separately disclosed items are outlined in Note 4 to the Financial Report. Operating revenue for FY19 was $231.3 million, $0.5 million up on FY18. With Sigma contributing $5.0 million of revenue in June (the first month since acquisition), revenues for the remainder of Hansen excluding Sigma were $4.5 million lower. This decline was a result of lower non-recurring revenues, due primarily to both lower one-off licence fees and reduced project work following the large body of work completed in the first half of FY18 associated with implementing Power of Choice in Australia. Conversely, recurring revenues grew to represent 63% of total operating revenue. Underlying EBITDA for the year was $55.8 million, 7.0% down on the $60.0 million in FY18. This resulted in an underlying EBITDA margin decline to 24.1% from 26.0% in FY18. Sigma only contributed a modest $0.1 million of EBITDA in June, which we do not see as representative of the business going forward. Excluding Sigma, the underlying EBITDA margin was 24.6%. This reduced margin was the direct result of the lower non-recurring revenue, as we were able to maintain operating expenses at the same level as FY18, even after the investment in the Vietnam Development Centre. <table> <tbody> <tr><td>A$ Million</td><td>FY19</td><td>FY18</td><td>Variance %</td></tr> <tr><td>Operating revenue</td><td>231.3</td><td>230.8</td><td>0.2%</td></tr> <tr><td>Underlying EBITDA 1, 3</td><td>55.8</td><td>60.0</td><td>(7.0%)</td></tr> <tr><td>Underlying NPAT 3</td><td>24.0</td><td>29.5</td><td>(18.7%)</td></tr> <tr><td>Underlying NPATA 2, 3</td><td>33.7</td><td>38.7</td><td>(12.9%)</td></tr> <tr><td>Basic EPS based on underlying NPATA (cents) 2</td><td>17.1</td><td>19.8</td><td>(13.6%)</td></tr> </tbody> </table> |
In which year would Profit for the year be larger if the amount in 2019 was 167.7 million instead? | [
"2018"
] | Consolidated statement of comprehensive income For the year ended 31 March 2019 1 The Group has adopted IFRS 9 ‘Financial Instruments’, IFRS 15 ‘Revenue from Contracts with Customers’, and IFRS 16 ‘Leases’ from 1 April 2018. The year ended 31 March 2018 has been restated for IFRS 16 which was implemented using the fully retrospective method. For further information on the impact of the change in accounting policies, see note 2 of these consolidated financial statements. <table> <tbody> <tr><td></td><td></td><td>2019</td><td>2018 (Restated)1</td></tr> <tr><td></td><td>Note</td><td>£m</td><td>£m</td></tr> <tr><td>Profit for the year</td><td></td><td>197.7</td><td>171.1</td></tr> <tr><td>Other comprehensive income</td><td></td><td></td><td></td></tr> <tr><td>Items that may be subsequently reclassified to profit or loss</td><td></td><td></td><td></td></tr> <tr><td>Exchange differences on translation of foreign operations</td><td></td><td>(0.1)</td><td>0.2</td></tr> <tr><td>Items that will not be reclassified to profit or loss</td><td></td><td></td><td></td></tr> <tr><td>Remeasurements of post-employment benefit obligations</td><td>24</td><td>0.2</td><td>–</td></tr> <tr><td>Other comprehensive income for the year, net of tax</td><td></td><td>0.1</td><td>0.2</td></tr> <tr><td>Total comprehensive income for the year attributable to equity holders of the parent</td><td></td><td>197.8</td><td>171.3</td></tr> </tbody> </table> |
What would the change in profit for the year in 2019 from 2018 be if the amount in 2019 was 197.1 million instead? | [
"26"
] | Consolidated statement of comprehensive income For the year ended 31 March 2019 1 The Group has adopted IFRS 9 ‘Financial Instruments’, IFRS 15 ‘Revenue from Contracts with Customers’, and IFRS 16 ‘Leases’ from 1 April 2018. The year ended 31 March 2018 has been restated for IFRS 16 which was implemented using the fully retrospective method. For further information on the impact of the change in accounting policies, see note 2 of these consolidated financial statements. <table> <tbody> <tr><td></td><td></td><td>2019</td><td>2018 (Restated)1</td></tr> <tr><td></td><td>Note</td><td>£m</td><td>£m</td></tr> <tr><td>Profit for the year</td><td></td><td>197.7</td><td>171.1</td></tr> <tr><td>Other comprehensive income</td><td></td><td></td><td></td></tr> <tr><td>Items that may be subsequently reclassified to profit or loss</td><td></td><td></td><td></td></tr> <tr><td>Exchange differences on translation of foreign operations</td><td></td><td>(0.1)</td><td>0.2</td></tr> <tr><td>Items that will not be reclassified to profit or loss</td><td></td><td></td><td></td></tr> <tr><td>Remeasurements of post-employment benefit obligations</td><td>24</td><td>0.2</td><td>–</td></tr> <tr><td>Other comprehensive income for the year, net of tax</td><td></td><td>0.1</td><td>0.2</td></tr> <tr><td>Total comprehensive income for the year attributable to equity holders of the parent</td><td></td><td>197.8</td><td>171.3</td></tr> </tbody> </table> |
What would the percentage change in profit for the year in 2019 from 2018 be if the amount in 2019 was 197.1 million instead? | [
"15.2"
] | Consolidated statement of comprehensive income For the year ended 31 March 2019 1 The Group has adopted IFRS 9 ‘Financial Instruments’, IFRS 15 ‘Revenue from Contracts with Customers’, and IFRS 16 ‘Leases’ from 1 April 2018. The year ended 31 March 2018 has been restated for IFRS 16 which was implemented using the fully retrospective method. For further information on the impact of the change in accounting policies, see note 2 of these consolidated financial statements. <table> <tbody> <tr><td></td><td></td><td>2019</td><td>2018 (Restated)1</td></tr> <tr><td></td><td>Note</td><td>£m</td><td>£m</td></tr> <tr><td>Profit for the year</td><td></td><td>197.7</td><td>171.1</td></tr> <tr><td>Other comprehensive income</td><td></td><td></td><td></td></tr> <tr><td>Items that may be subsequently reclassified to profit or loss</td><td></td><td></td><td></td></tr> <tr><td>Exchange differences on translation of foreign operations</td><td></td><td>(0.1)</td><td>0.2</td></tr> <tr><td>Items that will not be reclassified to profit or loss</td><td></td><td></td><td></td></tr> <tr><td>Remeasurements of post-employment benefit obligations</td><td>24</td><td>0.2</td><td>–</td></tr> <tr><td>Other comprehensive income for the year, net of tax</td><td></td><td>0.1</td><td>0.2</td></tr> <tr><td>Total comprehensive income for the year attributable to equity holders of the parent</td><td></td><td>197.8</td><td>171.3</td></tr> </tbody> </table> |
What was the difference in the balance at the end of the year compared to the start of the year for warranty reserve in fiscal year 2017 if the balance at the end of the year was $7,000 thousand instead? | [
"5108"
] | Valuation and Qualifying Accounts Following is our schedule of valuation and qualifying accounts for the last three years (in thousands): (1) Amounts under “Other” represent the reserves and valuation allowance assumed in acquisition of LoJack. The warranty reserve is included in the Other Current Liabilities in the consolidated balance sheets. (2) Amount under “Other” represents the valuation allowance previously netted against deferred tax assets of foreign net deferred tax assets not recorded on the balance sheet, which were disclosed narratively in the fiscal 2018 Form 10-K (see Note 12). Deferred tax assets and valuation allowances were grossed up by $15.1 million. <table> <tbody> <tr><td></td><td></td><td>Charged</td><td></td><td></td><td></td></tr> <tr><td></td><td></td><td>(credited)</td><td></td><td></td><td></td></tr> <tr><td></td><td>Balance at</td><td>to costs</td><td></td><td></td><td>Balance at</td></tr> <tr><td></td><td>beginning</td><td>and</td><td></td><td></td><td>end of</td></tr> <tr><td></td><td>of year</td><td>expenses</td><td>Deductions</td><td>Other</td><td>year</td></tr> <tr><td>Allowance for doubtful accounts:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017</td><td>622</td><td>541</td><td>(201)</td><td>-</td><td>962</td></tr> <tr><td>Fiscal 2018</td><td>962</td><td>685</td><td>(461)</td><td>-</td><td>1,186</td></tr> <tr><td>Fiscal 2019</td><td>1,186</td><td>1,230</td><td>(660)</td><td></td><td>1,756</td></tr> <tr><td>Warranty reserve:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017 (1)</td><td>1,892</td><td>1,305</td><td>(2,562)</td><td>5,883</td><td>6,518</td></tr> <tr><td>Fiscal 2018</td><td>6,518</td><td>1,331</td><td>(2,115)</td><td>-</td><td>5,734</td></tr> <tr><td>Fiscal 2019</td><td>5,734</td><td>1,126</td><td>(5,462)</td><td></td><td>1,398</td></tr> <tr><td>Deferred tax assets valuation allowance:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017 (1)</td><td>1,618</td><td>1,391</td><td>-</td><td>3,578</td><td>6,587</td></tr> <tr><td>Fiscal 2018 (2)</td><td>6,587</td><td>-</td><td>(4,835)</td><td>15,092</td><td>16,844</td></tr> <tr><td>Fiscal 2019</td><td>16,844</td><td>799</td><td>(6,714)</td><td>-</td><td>10,929</td></tr> </tbody> </table> |
What was the change in the balance at the beginning of the year for allowance for doubtful accounts between fiscal year 2018 and 2019 if the balance at the start of 2018 was $2,000 thousand instead? | [
"814"
] | Valuation and Qualifying Accounts Following is our schedule of valuation and qualifying accounts for the last three years (in thousands): (1) Amounts under “Other” represent the reserves and valuation allowance assumed in acquisition of LoJack. The warranty reserve is included in the Other Current Liabilities in the consolidated balance sheets. (2) Amount under “Other” represents the valuation allowance previously netted against deferred tax assets of foreign net deferred tax assets not recorded on the balance sheet, which were disclosed narratively in the fiscal 2018 Form 10-K (see Note 12). Deferred tax assets and valuation allowances were grossed up by $15.1 million. <table> <tbody> <tr><td></td><td></td><td>Charged</td><td></td><td></td><td></td></tr> <tr><td></td><td></td><td>(credited)</td><td></td><td></td><td></td></tr> <tr><td></td><td>Balance at</td><td>to costs</td><td></td><td></td><td>Balance at</td></tr> <tr><td></td><td>beginning</td><td>and</td><td></td><td></td><td>end of</td></tr> <tr><td></td><td>of year</td><td>expenses</td><td>Deductions</td><td>Other</td><td>year</td></tr> <tr><td>Allowance for doubtful accounts:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017</td><td>622</td><td>541</td><td>(201)</td><td>-</td><td>962</td></tr> <tr><td>Fiscal 2018</td><td>962</td><td>685</td><td>(461)</td><td>-</td><td>1,186</td></tr> <tr><td>Fiscal 2019</td><td>1,186</td><td>1,230</td><td>(660)</td><td></td><td>1,756</td></tr> <tr><td>Warranty reserve:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017 (1)</td><td>1,892</td><td>1,305</td><td>(2,562)</td><td>5,883</td><td>6,518</td></tr> <tr><td>Fiscal 2018</td><td>6,518</td><td>1,331</td><td>(2,115)</td><td>-</td><td>5,734</td></tr> <tr><td>Fiscal 2019</td><td>5,734</td><td>1,126</td><td>(5,462)</td><td></td><td>1,398</td></tr> <tr><td>Deferred tax assets valuation allowance:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017 (1)</td><td>1,618</td><td>1,391</td><td>-</td><td>3,578</td><td>6,587</td></tr> <tr><td>Fiscal 2018 (2)</td><td>6,587</td><td>-</td><td>(4,835)</td><td>15,092</td><td>16,844</td></tr> <tr><td>Fiscal 2019</td><td>16,844</td><td>799</td><td>(6,714)</td><td>-</td><td>10,929</td></tr> </tbody> </table> |
What was the change in Other from Deferred tax assets valuation allowance between Fiscal 2017 and 2018 if Other in 2017 was $10,000 thousand instead? | [
"5092"
] | Valuation and Qualifying Accounts Following is our schedule of valuation and qualifying accounts for the last three years (in thousands): (1) Amounts under “Other” represent the reserves and valuation allowance assumed in acquisition of LoJack. The warranty reserve is included in the Other Current Liabilities in the consolidated balance sheets. (2) Amount under “Other” represents the valuation allowance previously netted against deferred tax assets of foreign net deferred tax assets not recorded on the balance sheet, which were disclosed narratively in the fiscal 2018 Form 10-K (see Note 12). Deferred tax assets and valuation allowances were grossed up by $15.1 million. <table> <tbody> <tr><td></td><td></td><td>Charged</td><td></td><td></td><td></td></tr> <tr><td></td><td></td><td>(credited)</td><td></td><td></td><td></td></tr> <tr><td></td><td>Balance at</td><td>to costs</td><td></td><td></td><td>Balance at</td></tr> <tr><td></td><td>beginning</td><td>and</td><td></td><td></td><td>end of</td></tr> <tr><td></td><td>of year</td><td>expenses</td><td>Deductions</td><td>Other</td><td>year</td></tr> <tr><td>Allowance for doubtful accounts:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017</td><td>622</td><td>541</td><td>(201)</td><td>-</td><td>962</td></tr> <tr><td>Fiscal 2018</td><td>962</td><td>685</td><td>(461)</td><td>-</td><td>1,186</td></tr> <tr><td>Fiscal 2019</td><td>1,186</td><td>1,230</td><td>(660)</td><td></td><td>1,756</td></tr> <tr><td>Warranty reserve:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017 (1)</td><td>1,892</td><td>1,305</td><td>(2,562)</td><td>5,883</td><td>6,518</td></tr> <tr><td>Fiscal 2018</td><td>6,518</td><td>1,331</td><td>(2,115)</td><td>-</td><td>5,734</td></tr> <tr><td>Fiscal 2019</td><td>5,734</td><td>1,126</td><td>(5,462)</td><td></td><td>1,398</td></tr> <tr><td>Deferred tax assets valuation allowance:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Fiscal 2017 (1)</td><td>1,618</td><td>1,391</td><td>-</td><td>3,578</td><td>6,587</td></tr> <tr><td>Fiscal 2018 (2)</td><td>6,587</td><td>-</td><td>(4,835)</td><td>15,092</td><td>16,844</td></tr> <tr><td>Fiscal 2019</td><td>16,844</td><td>799</td><td>(6,714)</td><td>-</td><td>10,929</td></tr> </tbody> </table> |
What would be the change in Accounts receivable between 2018 and 2019 if accounts receivable in 2018 were $80,000 thousand instead? | [
"32"
] | Note 4. Accounts Receivable, Net The components of accounts receivable, net are as follows (in thousands): For the years ended December 31, 2019, 2018 and 2017, we recorded a provision for doubtful accounts of $1.2 million, $0.1 million and $0.5 million, respectively. For the year ended December 31, 2019, we recorded a reduction to the reserve for product returns of $0.1 million. For the years ended December 31, 2018 and 2017, we recorded a $0.3 million and $2.1 million reserve for product returns in our hardware and other revenue, respectively. Historically, we have not experienced write-offs for uncollectible accounts or sales returns that have differed significantly from our estimates. <table> <tbody> <tr><td>December 31,</td><td></td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Accounts receivable</td><td>$80,032</td><td>$52,850</td></tr> <tr><td>Allowance for doubtful accounts</td><td>(2,584)</td><td>(1,425)</td></tr> <tr><td>Allowance for product returns</td><td>(1,075)</td><td>(1,915)</td></tr> <tr><td>Accounts receivable, net</td><td>$76,373</td><td>$49,510</td></tr> </tbody> </table> |
How many years would net accounts receivable exceed $50,000 thousand if net accounts receivable in 2018 was $55,000 thousand instead? | [
"2"
] | Note 4. Accounts Receivable, Net The components of accounts receivable, net are as follows (in thousands): For the years ended December 31, 2019, 2018 and 2017, we recorded a provision for doubtful accounts of $1.2 million, $0.1 million and $0.5 million, respectively. For the year ended December 31, 2019, we recorded a reduction to the reserve for product returns of $0.1 million. For the years ended December 31, 2018 and 2017, we recorded a $0.3 million and $2.1 million reserve for product returns in our hardware and other revenue, respectively. Historically, we have not experienced write-offs for uncollectible accounts or sales returns that have differed significantly from our estimates. <table> <tbody> <tr><td>December 31,</td><td></td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Accounts receivable</td><td>$80,032</td><td>$52,850</td></tr> <tr><td>Allowance for doubtful accounts</td><td>(2,584)</td><td>(1,425)</td></tr> <tr><td>Allowance for product returns</td><td>(1,075)</td><td>(1,915)</td></tr> <tr><td>Accounts receivable, net</td><td>$76,373</td><td>$49,510</td></tr> </tbody> </table> |
What would be the percentage change in allowance for product returns between 2018 and 2019 if the allowance for product returns in 2019 were -$2,000 thousand instead? | [
"4.44"
] | Note 4. Accounts Receivable, Net The components of accounts receivable, net are as follows (in thousands): For the years ended December 31, 2019, 2018 and 2017, we recorded a provision for doubtful accounts of $1.2 million, $0.1 million and $0.5 million, respectively. For the year ended December 31, 2019, we recorded a reduction to the reserve for product returns of $0.1 million. For the years ended December 31, 2018 and 2017, we recorded a $0.3 million and $2.1 million reserve for product returns in our hardware and other revenue, respectively. Historically, we have not experienced write-offs for uncollectible accounts or sales returns that have differed significantly from our estimates. <table> <tbody> <tr><td>December 31,</td><td></td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Accounts receivable</td><td>$80,032</td><td>$52,850</td></tr> <tr><td>Allowance for doubtful accounts</td><td>(2,584)</td><td>(1,425)</td></tr> <tr><td>Allowance for product returns</td><td>(1,075)</td><td>(1,915)</td></tr> <tr><td>Accounts receivable, net</td><td>$76,373</td><td>$49,510</td></tr> </tbody> </table> |
What would be the difference in Others, Allowances between the CFO and Company Secretary if the value of the CFO is 200.00 instead? | [
"82.71"
] | C. Remuneration to Key Managerial Personnel other than MD / Manager / WTD Note: For more information, please refer to the Corporate Governance Report. <table> <tbody> <tr><td>Particulars of Remuneration</td><td>Key Managerial Personnel</td><td></td><td></td></tr> <tr><td></td><td>Ramakrishnan V Chief Financial Officer</td><td>Rajendra Moholkar Company Secretary</td><td>Total</td></tr> <tr><td>1. Gross salary</td><td></td><td></td><td></td></tr> <tr><td>(a) Salary as per provisions contained in Section 17(1) of the Income-tax Act, 1961</td><td>72.06</td><td>21.66</td><td>93.72</td></tr> <tr><td>(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961</td><td>43.54</td><td>1.20</td><td>44.74</td></tr> <tr><td>(c) Profits in lieu of salary under Section 17(3) of the Income-tax Act, 1961</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>2. Stock Option</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>3. Sweat Equity</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>4. Commission</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>as % of profit</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>5. Others, Allowances</td><td>297.47</td><td>117.29</td><td>414.76</td></tr> <tr><td>Total</td><td>413.07</td><td>140.15</td><td>553.22</td></tr> </tbody> </table> |
Which key managerial personnel would have the highest total remuneration if the remuneration of the Company secretary was 500.00 instead? | [
"Rajendra Moholkar Company Secretary"
] | C. Remuneration to Key Managerial Personnel other than MD / Manager / WTD Note: For more information, please refer to the Corporate Governance Report. <table> <tbody> <tr><td>Particulars of Remuneration</td><td>Key Managerial Personnel</td><td></td><td></td></tr> <tr><td></td><td>Ramakrishnan V Chief Financial Officer</td><td>Rajendra Moholkar Company Secretary</td><td>Total</td></tr> <tr><td>1. Gross salary</td><td></td><td></td><td></td></tr> <tr><td>(a) Salary as per provisions contained in Section 17(1) of the Income-tax Act, 1961</td><td>72.06</td><td>21.66</td><td>93.72</td></tr> <tr><td>(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961</td><td>43.54</td><td>1.20</td><td>44.74</td></tr> <tr><td>(c) Profits in lieu of salary under Section 17(3) of the Income-tax Act, 1961</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>2. Stock Option</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>3. Sweat Equity</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>4. Commission</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>as % of profit</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>5. Others, Allowances</td><td>297.47</td><td>117.29</td><td>414.76</td></tr> <tr><td>Total</td><td>413.07</td><td>140.15</td><td>553.22</td></tr> </tbody> </table> |
What would be the difference in total gross salary of the CFO and Company Secretary if the company secretary had a gross salary of 30.0 instead? | [
"85.6"
] | C. Remuneration to Key Managerial Personnel other than MD / Manager / WTD Note: For more information, please refer to the Corporate Governance Report. <table> <tbody> <tr><td>Particulars of Remuneration</td><td>Key Managerial Personnel</td><td></td><td></td></tr> <tr><td></td><td>Ramakrishnan V Chief Financial Officer</td><td>Rajendra Moholkar Company Secretary</td><td>Total</td></tr> <tr><td>1. Gross salary</td><td></td><td></td><td></td></tr> <tr><td>(a) Salary as per provisions contained in Section 17(1) of the Income-tax Act, 1961</td><td>72.06</td><td>21.66</td><td>93.72</td></tr> <tr><td>(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961</td><td>43.54</td><td>1.20</td><td>44.74</td></tr> <tr><td>(c) Profits in lieu of salary under Section 17(3) of the Income-tax Act, 1961</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>2. Stock Option</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>3. Sweat Equity</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>4. Commission</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>as % of profit</td><td>-</td><td>-</td><td>-</td></tr> <tr><td>5. Others, Allowances</td><td>297.47</td><td>117.29</td><td>414.76</td></tr> <tr><td>Total</td><td>413.07</td><td>140.15</td><td>553.22</td></tr> </tbody> </table> |
How many streams of revenue are there under operating revenue, if there is no pay television revenue? | [
"6"
] | Operating Revenue Notes: (1) Includes revenues from subscription (prepaid/postpaid), interconnect, outbound and inbound roaming, wholesale revenue from MVNOs (Mobile Virtual Network Operators) and mobile content services such as music and video. (2) Includes equipment sales related to ICT services. (3) Mainly from provisions of digital marketing and advertising services and regional premium OTT video. (4) Includes energy reselling fees. As at 31 March 2019, the transaction price attributable to unsatisfied performance obligations for ICT services rendered by NCS Pte. Ltd. is approximately S$3 billion which will be recognised as operating revenue mostly over the next 5 years. As at 31 March 2019, the transaction price attributable to unsatisfied performance obligations for ICT services rendered by NCS Pte. Ltd. is approximately S$3 billion which will be recognised as operating revenue mostly over the next 5 years. Service contracts with consumers typically range from a month to 2 years, and contracts with enterprises typically range from 1 to 3 years. <table> <tbody> <tr><td></td><td>Group</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td></td><td>S$ Mil</td><td>S$ Mil</td></tr> <tr><td>Mobile service (1)</td><td>5,395.7</td><td>5,737.3</td></tr> <tr><td>Sale of equipment</td><td>2,876.7</td><td>2,414.5</td></tr> <tr><td>Handset operating lease income</td><td>140.5</td><td>25.2</td></tr> <tr><td>Mobile</td><td>8,412.9</td><td>8,177.0</td></tr> <tr><td>Data and Internet</td><td>3,340.9</td><td>3,435.7</td></tr> <tr><td>Business solutions</td><td>604.1</td><td>560.7</td></tr> <tr><td>Cyber security</td><td>548.7</td><td>527.1</td></tr> <tr><td>Other managed services</td><td>1,880.8</td><td>1,920.0</td></tr> <tr><td>Infocomm Technology (“ICT”) (2)</td><td>3,033.6</td><td>3,007.8</td></tr> <tr><td>Digital businesses (3)</td><td>1,245.3</td><td>1,113.1</td></tr> <tr><td>Fixed voice</td><td>899.0</td><td>1,084.3</td></tr> <tr><td>Pay television</td><td>372.7</td><td>369.4</td></tr> <tr><td>Others (4)</td><td>67.3</td><td>80.7</td></tr> <tr><td>Operating revenue</td><td>17,371.7</td><td>17,268.0</td></tr> <tr><td>Operating revenue</td><td>17,371.7</td><td>17,268.0</td></tr> <tr><td>Other income</td><td>224.7</td><td>258.8</td></tr> <tr><td>Interest and investment income (see Note 10)</td><td>38.1</td><td>45.5</td></tr> <tr><td>Total</td><td>17,634.5</td><td>17,572.3</td></tr> </tbody> </table> |
How much revenue does the largest 2 sources of revenue streams bring in for Singtel in 2019, if the revenue generated from Digital Businesses is S$4,000.0 Mil? | [
"12412.9"
] | Operating Revenue Notes: (1) Includes revenues from subscription (prepaid/postpaid), interconnect, outbound and inbound roaming, wholesale revenue from MVNOs (Mobile Virtual Network Operators) and mobile content services such as music and video. (2) Includes equipment sales related to ICT services. (3) Mainly from provisions of digital marketing and advertising services and regional premium OTT video. (4) Includes energy reselling fees. As at 31 March 2019, the transaction price attributable to unsatisfied performance obligations for ICT services rendered by NCS Pte. Ltd. is approximately S$3 billion which will be recognised as operating revenue mostly over the next 5 years. As at 31 March 2019, the transaction price attributable to unsatisfied performance obligations for ICT services rendered by NCS Pte. Ltd. is approximately S$3 billion which will be recognised as operating revenue mostly over the next 5 years. Service contracts with consumers typically range from a month to 2 years, and contracts with enterprises typically range from 1 to 3 years. <table> <tbody> <tr><td></td><td>Group</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td></td><td>S$ Mil</td><td>S$ Mil</td></tr> <tr><td>Mobile service (1)</td><td>5,395.7</td><td>5,737.3</td></tr> <tr><td>Sale of equipment</td><td>2,876.7</td><td>2,414.5</td></tr> <tr><td>Handset operating lease income</td><td>140.5</td><td>25.2</td></tr> <tr><td>Mobile</td><td>8,412.9</td><td>8,177.0</td></tr> <tr><td>Data and Internet</td><td>3,340.9</td><td>3,435.7</td></tr> <tr><td>Business solutions</td><td>604.1</td><td>560.7</td></tr> <tr><td>Cyber security</td><td>548.7</td><td>527.1</td></tr> <tr><td>Other managed services</td><td>1,880.8</td><td>1,920.0</td></tr> <tr><td>Infocomm Technology (“ICT”) (2)</td><td>3,033.6</td><td>3,007.8</td></tr> <tr><td>Digital businesses (3)</td><td>1,245.3</td><td>1,113.1</td></tr> <tr><td>Fixed voice</td><td>899.0</td><td>1,084.3</td></tr> <tr><td>Pay television</td><td>372.7</td><td>369.4</td></tr> <tr><td>Others (4)</td><td>67.3</td><td>80.7</td></tr> <tr><td>Operating revenue</td><td>17,371.7</td><td>17,268.0</td></tr> <tr><td>Operating revenue</td><td>17,371.7</td><td>17,268.0</td></tr> <tr><td>Other income</td><td>224.7</td><td>258.8</td></tr> <tr><td>Interest and investment income (see Note 10)</td><td>38.1</td><td>45.5</td></tr> <tr><td>Total</td><td>17,634.5</td><td>17,572.3</td></tr> </tbody> </table> |
What is the average revenue under "Other income" across the 2 years, if Other Income in 2019 was S$200.0Mil? | [
"229.4"
] | Operating Revenue Notes: (1) Includes revenues from subscription (prepaid/postpaid), interconnect, outbound and inbound roaming, wholesale revenue from MVNOs (Mobile Virtual Network Operators) and mobile content services such as music and video. (2) Includes equipment sales related to ICT services. (3) Mainly from provisions of digital marketing and advertising services and regional premium OTT video. (4) Includes energy reselling fees. As at 31 March 2019, the transaction price attributable to unsatisfied performance obligations for ICT services rendered by NCS Pte. Ltd. is approximately S$3 billion which will be recognised as operating revenue mostly over the next 5 years. As at 31 March 2019, the transaction price attributable to unsatisfied performance obligations for ICT services rendered by NCS Pte. Ltd. is approximately S$3 billion which will be recognised as operating revenue mostly over the next 5 years. Service contracts with consumers typically range from a month to 2 years, and contracts with enterprises typically range from 1 to 3 years. <table> <tbody> <tr><td></td><td>Group</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td></td><td>S$ Mil</td><td>S$ Mil</td></tr> <tr><td>Mobile service (1)</td><td>5,395.7</td><td>5,737.3</td></tr> <tr><td>Sale of equipment</td><td>2,876.7</td><td>2,414.5</td></tr> <tr><td>Handset operating lease income</td><td>140.5</td><td>25.2</td></tr> <tr><td>Mobile</td><td>8,412.9</td><td>8,177.0</td></tr> <tr><td>Data and Internet</td><td>3,340.9</td><td>3,435.7</td></tr> <tr><td>Business solutions</td><td>604.1</td><td>560.7</td></tr> <tr><td>Cyber security</td><td>548.7</td><td>527.1</td></tr> <tr><td>Other managed services</td><td>1,880.8</td><td>1,920.0</td></tr> <tr><td>Infocomm Technology (“ICT”) (2)</td><td>3,033.6</td><td>3,007.8</td></tr> <tr><td>Digital businesses (3)</td><td>1,245.3</td><td>1,113.1</td></tr> <tr><td>Fixed voice</td><td>899.0</td><td>1,084.3</td></tr> <tr><td>Pay television</td><td>372.7</td><td>369.4</td></tr> <tr><td>Others (4)</td><td>67.3</td><td>80.7</td></tr> <tr><td>Operating revenue</td><td>17,371.7</td><td>17,268.0</td></tr> <tr><td>Operating revenue</td><td>17,371.7</td><td>17,268.0</td></tr> <tr><td>Other income</td><td>224.7</td><td>258.8</td></tr> <tr><td>Interest and investment income (see Note 10)</td><td>38.1</td><td>45.5</td></tr> <tr><td>Total</td><td>17,634.5</td><td>17,572.3</td></tr> </tbody> </table> |
If Risk-free interest rate in 2019 was 2.5%, what would be the change from 2018 to 2019? | [
"0.3"
] | Share Options The Company estimates the fair value of employee share options on the date of grant using the Black-Scholes option-pricing model, which requires the use of highly subjective estimates and assumptions. The Company estimates the expected term of share options for service-based awards utilizing the “Simplified Method,” as it does not have sufficient historical share option exercise information on which to base its estimate. The Simplified Method is based on the average of the vesting tranches and the contractual life of each grant. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the share option. Since there was no public market for the Company’s ordinary shares prior to the IPO and as its shares have been publicly traded for a limited time, the Company determined the expected volatility for options granted based on an analysis of reported data for a peer group of companies that issue options with substantially similar terms. The expected volatility of options granted has been determined using an average of the historical volatility measures of this peer group of companies. The Company uses an expected dividend rate of zero as it currently has no history or expectation of paying dividends on its ordinary shares. The fair value of the Company’s ordinary shares at the time of each share option grant is based on the closing market value of its ordinary shares on the grant date. The fair value of each share option grant was estimated using the Black-Scholes option-pricing model that used the following weighted-average assumptions: The weighted-average per share fair value of share options granted to employees during the years ended March 31, 2019, 2018 and 2017 was $16.48, $11.12 and $8.65 per share, respectively. <table> <tbody> <tr><td></td><td></td><td>Year ended March 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td><td>2017</td></tr> <tr><td>Expected term (in years)</td><td>6.1</td><td>6.1</td><td>6.1</td></tr> <tr><td>Risk-free interest rate</td><td>2.7%</td><td>2.2%</td><td>2.1%</td></tr> <tr><td>Expected volatility</td><td>41.5%</td><td>39.8%</td><td>41.0%</td></tr> <tr><td>Expected dividend yield</td><td>—%</td><td>—%</td><td>—%</td></tr> <tr><td>Estimated grant date fair value per ordinary share</td><td>$37.15</td><td>$26.52</td><td>$20.22</td></tr> </tbody> </table> |
If Expected volatility in 2019 was 40.0%, what would be the average between 2017-2019? | [
"40.27"
] | Share Options The Company estimates the fair value of employee share options on the date of grant using the Black-Scholes option-pricing model, which requires the use of highly subjective estimates and assumptions. The Company estimates the expected term of share options for service-based awards utilizing the “Simplified Method,” as it does not have sufficient historical share option exercise information on which to base its estimate. The Simplified Method is based on the average of the vesting tranches and the contractual life of each grant. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the share option. Since there was no public market for the Company’s ordinary shares prior to the IPO and as its shares have been publicly traded for a limited time, the Company determined the expected volatility for options granted based on an analysis of reported data for a peer group of companies that issue options with substantially similar terms. The expected volatility of options granted has been determined using an average of the historical volatility measures of this peer group of companies. The Company uses an expected dividend rate of zero as it currently has no history or expectation of paying dividends on its ordinary shares. The fair value of the Company’s ordinary shares at the time of each share option grant is based on the closing market value of its ordinary shares on the grant date. The fair value of each share option grant was estimated using the Black-Scholes option-pricing model that used the following weighted-average assumptions: The weighted-average per share fair value of share options granted to employees during the years ended March 31, 2019, 2018 and 2017 was $16.48, $11.12 and $8.65 per share, respectively. <table> <tbody> <tr><td></td><td></td><td>Year ended March 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td><td>2017</td></tr> <tr><td>Expected term (in years)</td><td>6.1</td><td>6.1</td><td>6.1</td></tr> <tr><td>Risk-free interest rate</td><td>2.7%</td><td>2.2%</td><td>2.1%</td></tr> <tr><td>Expected volatility</td><td>41.5%</td><td>39.8%</td><td>41.0%</td></tr> <tr><td>Expected dividend yield</td><td>—%</td><td>—%</td><td>—%</td></tr> <tr><td>Estimated grant date fair value per ordinary share</td><td>$37.15</td><td>$26.52</td><td>$20.22</td></tr> </tbody> </table> |
If Estimated grant date fair value per ordinary share in 2019 was 28.15, in which year would it be less than 30.0? | [
"2019",
"2018",
"2017"
] | Share Options The Company estimates the fair value of employee share options on the date of grant using the Black-Scholes option-pricing model, which requires the use of highly subjective estimates and assumptions. The Company estimates the expected term of share options for service-based awards utilizing the “Simplified Method,” as it does not have sufficient historical share option exercise information on which to base its estimate. The Simplified Method is based on the average of the vesting tranches and the contractual life of each grant. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of the share option. Since there was no public market for the Company’s ordinary shares prior to the IPO and as its shares have been publicly traded for a limited time, the Company determined the expected volatility for options granted based on an analysis of reported data for a peer group of companies that issue options with substantially similar terms. The expected volatility of options granted has been determined using an average of the historical volatility measures of this peer group of companies. The Company uses an expected dividend rate of zero as it currently has no history or expectation of paying dividends on its ordinary shares. The fair value of the Company’s ordinary shares at the time of each share option grant is based on the closing market value of its ordinary shares on the grant date. The fair value of each share option grant was estimated using the Black-Scholes option-pricing model that used the following weighted-average assumptions: The weighted-average per share fair value of share options granted to employees during the years ended March 31, 2019, 2018 and 2017 was $16.48, $11.12 and $8.65 per share, respectively. <table> <tbody> <tr><td></td><td></td><td>Year ended March 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td><td>2017</td></tr> <tr><td>Expected term (in years)</td><td>6.1</td><td>6.1</td><td>6.1</td></tr> <tr><td>Risk-free interest rate</td><td>2.7%</td><td>2.2%</td><td>2.1%</td></tr> <tr><td>Expected volatility</td><td>41.5%</td><td>39.8%</td><td>41.0%</td></tr> <tr><td>Expected dividend yield</td><td>—%</td><td>—%</td><td>—%</td></tr> <tr><td>Estimated grant date fair value per ordinary share</td><td>$37.15</td><td>$26.52</td><td>$20.22</td></tr> </tbody> </table> |
How many years did Foreign currency hedges reported in Other current assets exceed $500 thousand if Foreign currency hedges reported in Other current assets in 2018 was $600 thousand instead? | [
"2"
] | NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 13 — Derivatives Our earnings and cash flows are subject to fluctuations due to changes in foreign currency exchange rates and interest rates. We selectively use derivative financial instruments including foreign currency forward contracts and interest rate swaps to manage our exposure to these risks. The use of derivative financial instruments exposes the Company to credit risk, which relates to the risk of nonperformance by a counterparty to the derivative contracts. We manage our credit risk by entering into derivative contracts with only highly rated financial institutions and by using netting agreements. The effective portion of derivative gains and losses are recorded in accumulated other comprehensive loss until the hedged transaction affects earnings upon settlement, at which time they are reclassified to cost of goods sold or net sales. If it is probable that an anticipated hedged transaction will not occur by the end of the originally specified time period, we reclassify the gains or losses related to that hedge from accumulated other comprehensive loss to other income (expense). We assess hedge effectiveness qualitatively by verifying that the critical terms of the hedging instrument and the forecasted transaction continue to match, and that there have been no adverse developments that have increased the risk that the counterparty will default. No recognition of ineffectiveness was recorded in our Consolidated Statement of Earnings for the twelve months ended December 31, 2019. Foreign Currency Hedges We use forward contracts to mitigate currency risk related to a portion of our forecasted foreign currency revenues and costs. The currency forward contracts are designed as cash flow hedges and are recorded in the Consolidated Balance Sheets at fair value. We continue to monitor the Company’s overall currency exposure and may elect to add cash flow hedges in the future. At December 31, 2019, we had a net unrealized gain of $655 in accumulated other comprehensive loss, of which $595 is expected to be reclassified to income within the next 12 months. The notional amount of foreign currency forward contracts outstanding was $8,011 at December 31, 2019. Interest Rate Swaps We use interest rate swaps to convert a portion of our revolving credit facility's outstanding balance from a variable rate of interest to a fixed rate. As of December 31, 2019, we have agreements to fix interest rates on $50,000 of long-term debt through February 2024. The difference to be paid or received under the terms of the swap agreements will be recognized as an adjustment to interest expense when settled. These swaps are treated as cash flow hedges and consequently, the changes in fair value are recorded in other comprehensive loss. The estimated net amount of the existing gains or losses that are reported in accumulated other comprehensive loss that are expected to be reclassified into earnings within the next twelve months is approximately $82. The location and fair values of derivative instruments designated as hedging instruments in the Consolidated Balance Sheets as of December 31, 2019, are shown in the following table: The Company has elected to net its foreign currency derivative assets and liabilities in the balance sheet in accordance with ASC 210-20 (Balance Sheet, Offsetting). On a gross basis, there were foreign currency derivative assets of $648 and foreign currency derivative liabilities of $68 at December 31, 2019. <table> <tbody> <tr><td></td><td>As of December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Interest rate swaps reported in Other current assets</td><td>$82</td><td>$576</td></tr> <tr><td>Interest rate swaps reported in Other assets</td><td>$—</td><td>$369</td></tr> <tr><td>Interest rate swaps reported in Other long-term obligations</td><td>$(78)</td><td>$—</td></tr> <tr><td>Foreign currency hedges reported in Other current assets</td><td>$580</td><td>$393</td></tr> </tbody> </table> |
What would be the change in the Interest rate swaps reported in Other current assets between 2018 and 2019 if the Interest rate swaps reported in Other current assets in 2019 was $600 thousand instead? | [
"24"
] | NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 13 — Derivatives Our earnings and cash flows are subject to fluctuations due to changes in foreign currency exchange rates and interest rates. We selectively use derivative financial instruments including foreign currency forward contracts and interest rate swaps to manage our exposure to these risks. The use of derivative financial instruments exposes the Company to credit risk, which relates to the risk of nonperformance by a counterparty to the derivative contracts. We manage our credit risk by entering into derivative contracts with only highly rated financial institutions and by using netting agreements. The effective portion of derivative gains and losses are recorded in accumulated other comprehensive loss until the hedged transaction affects earnings upon settlement, at which time they are reclassified to cost of goods sold or net sales. If it is probable that an anticipated hedged transaction will not occur by the end of the originally specified time period, we reclassify the gains or losses related to that hedge from accumulated other comprehensive loss to other income (expense). We assess hedge effectiveness qualitatively by verifying that the critical terms of the hedging instrument and the forecasted transaction continue to match, and that there have been no adverse developments that have increased the risk that the counterparty will default. No recognition of ineffectiveness was recorded in our Consolidated Statement of Earnings for the twelve months ended December 31, 2019. Foreign Currency Hedges We use forward contracts to mitigate currency risk related to a portion of our forecasted foreign currency revenues and costs. The currency forward contracts are designed as cash flow hedges and are recorded in the Consolidated Balance Sheets at fair value. We continue to monitor the Company’s overall currency exposure and may elect to add cash flow hedges in the future. At December 31, 2019, we had a net unrealized gain of $655 in accumulated other comprehensive loss, of which $595 is expected to be reclassified to income within the next 12 months. The notional amount of foreign currency forward contracts outstanding was $8,011 at December 31, 2019. Interest Rate Swaps We use interest rate swaps to convert a portion of our revolving credit facility's outstanding balance from a variable rate of interest to a fixed rate. As of December 31, 2019, we have agreements to fix interest rates on $50,000 of long-term debt through February 2024. The difference to be paid or received under the terms of the swap agreements will be recognized as an adjustment to interest expense when settled. These swaps are treated as cash flow hedges and consequently, the changes in fair value are recorded in other comprehensive loss. The estimated net amount of the existing gains or losses that are reported in accumulated other comprehensive loss that are expected to be reclassified into earnings within the next twelve months is approximately $82. The location and fair values of derivative instruments designated as hedging instruments in the Consolidated Balance Sheets as of December 31, 2019, are shown in the following table: The Company has elected to net its foreign currency derivative assets and liabilities in the balance sheet in accordance with ASC 210-20 (Balance Sheet, Offsetting). On a gross basis, there were foreign currency derivative assets of $648 and foreign currency derivative liabilities of $68 at December 31, 2019. <table> <tbody> <tr><td></td><td>As of December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Interest rate swaps reported in Other current assets</td><td>$82</td><td>$576</td></tr> <tr><td>Interest rate swaps reported in Other assets</td><td>$—</td><td>$369</td></tr> <tr><td>Interest rate swaps reported in Other long-term obligations</td><td>$(78)</td><td>$—</td></tr> <tr><td>Foreign currency hedges reported in Other current assets</td><td>$580</td><td>$393</td></tr> </tbody> </table> |
What would be the percentage change in Foreign currency hedges reported in Other current assets between 2018 and 2019 if Foreign currency hedges reported in Other current assets in 2019 was $500 thousand instead? | [
"27.23"
] | NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) NOTE 13 — Derivatives Our earnings and cash flows are subject to fluctuations due to changes in foreign currency exchange rates and interest rates. We selectively use derivative financial instruments including foreign currency forward contracts and interest rate swaps to manage our exposure to these risks. The use of derivative financial instruments exposes the Company to credit risk, which relates to the risk of nonperformance by a counterparty to the derivative contracts. We manage our credit risk by entering into derivative contracts with only highly rated financial institutions and by using netting agreements. The effective portion of derivative gains and losses are recorded in accumulated other comprehensive loss until the hedged transaction affects earnings upon settlement, at which time they are reclassified to cost of goods sold or net sales. If it is probable that an anticipated hedged transaction will not occur by the end of the originally specified time period, we reclassify the gains or losses related to that hedge from accumulated other comprehensive loss to other income (expense). We assess hedge effectiveness qualitatively by verifying that the critical terms of the hedging instrument and the forecasted transaction continue to match, and that there have been no adverse developments that have increased the risk that the counterparty will default. No recognition of ineffectiveness was recorded in our Consolidated Statement of Earnings for the twelve months ended December 31, 2019. Foreign Currency Hedges We use forward contracts to mitigate currency risk related to a portion of our forecasted foreign currency revenues and costs. The currency forward contracts are designed as cash flow hedges and are recorded in the Consolidated Balance Sheets at fair value. We continue to monitor the Company’s overall currency exposure and may elect to add cash flow hedges in the future. At December 31, 2019, we had a net unrealized gain of $655 in accumulated other comprehensive loss, of which $595 is expected to be reclassified to income within the next 12 months. The notional amount of foreign currency forward contracts outstanding was $8,011 at December 31, 2019. Interest Rate Swaps We use interest rate swaps to convert a portion of our revolving credit facility's outstanding balance from a variable rate of interest to a fixed rate. As of December 31, 2019, we have agreements to fix interest rates on $50,000 of long-term debt through February 2024. The difference to be paid or received under the terms of the swap agreements will be recognized as an adjustment to interest expense when settled. These swaps are treated as cash flow hedges and consequently, the changes in fair value are recorded in other comprehensive loss. The estimated net amount of the existing gains or losses that are reported in accumulated other comprehensive loss that are expected to be reclassified into earnings within the next twelve months is approximately $82. The location and fair values of derivative instruments designated as hedging instruments in the Consolidated Balance Sheets as of December 31, 2019, are shown in the following table: The Company has elected to net its foreign currency derivative assets and liabilities in the balance sheet in accordance with ASC 210-20 (Balance Sheet, Offsetting). On a gross basis, there were foreign currency derivative assets of $648 and foreign currency derivative liabilities of $68 at December 31, 2019. <table> <tbody> <tr><td></td><td>As of December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Interest rate swaps reported in Other current assets</td><td>$82</td><td>$576</td></tr> <tr><td>Interest rate swaps reported in Other assets</td><td>$—</td><td>$369</td></tr> <tr><td>Interest rate swaps reported in Other long-term obligations</td><td>$(78)</td><td>$—</td></tr> <tr><td>Foreign currency hedges reported in Other current assets</td><td>$580</td><td>$393</td></tr> </tbody> </table> |
What was the sum of operating lease in fiscal years 2020-2022 if the operating lease in 2022 was $900 million instead? | [
"2682.6"
] | AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed) As of December 31, 2019, the Company does not have material operating or financing leases that have not yet commenced. Maturities of operating and finance lease liabilities as of December 31, 2019 were as follows: (1) Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods. <table> <tbody> <tr><td>Fiscal Year</td><td>Operating Lease (1)</td><td>Finance Lease (1)</td></tr> <tr><td>2020</td><td>$904.3</td><td>$8.0</td></tr> <tr><td>2021</td><td>878.3</td><td>5.3</td></tr> <tr><td>2022</td><td>845.5</td><td>4.3</td></tr> <tr><td>2023</td><td>810.3</td><td>3.0</td></tr> <tr><td>2024</td><td>766.4</td><td>2.1</td></tr> <tr><td>Thereafter</td><td>6,140.1</td><td>45.4</td></tr> <tr><td>Total lease payments</td><td>10,344.9</td><td>68.1</td></tr> <tr><td>Less amounts representing interest</td><td>(3,340.0)</td><td>(37.4)</td></tr> <tr><td>Total lease liability</td><td>7,004.9</td><td>30.7</td></tr> <tr><td>Less current portion of lease liability</td><td>494.5</td><td>6.7</td></tr> <tr><td>Non-current lease liability</td><td>$6,510.4</td><td>$24.0</td></tr> </tbody> </table> |
What was the change in finance leases between 2020 and 2021 if the finance lease in 2021 was $7.0 million instead? | [
"-1"
] | AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed) As of December 31, 2019, the Company does not have material operating or financing leases that have not yet commenced. Maturities of operating and finance lease liabilities as of December 31, 2019 were as follows: (1) Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods. <table> <tbody> <tr><td>Fiscal Year</td><td>Operating Lease (1)</td><td>Finance Lease (1)</td></tr> <tr><td>2020</td><td>$904.3</td><td>$8.0</td></tr> <tr><td>2021</td><td>878.3</td><td>5.3</td></tr> <tr><td>2022</td><td>845.5</td><td>4.3</td></tr> <tr><td>2023</td><td>810.3</td><td>3.0</td></tr> <tr><td>2024</td><td>766.4</td><td>2.1</td></tr> <tr><td>Thereafter</td><td>6,140.1</td><td>45.4</td></tr> <tr><td>Total lease payments</td><td>10,344.9</td><td>68.1</td></tr> <tr><td>Less amounts representing interest</td><td>(3,340.0)</td><td>(37.4)</td></tr> <tr><td>Total lease liability</td><td>7,004.9</td><td>30.7</td></tr> <tr><td>Less current portion of lease liability</td><td>494.5</td><td>6.7</td></tr> <tr><td>Non-current lease liability</td><td>$6,510.4</td><td>$24.0</td></tr> </tbody> </table> |
What is non-current lease liability as a percentage of Total lease liability if total lease liability was $9,000 million instead? | [
"72.34"
] | AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Tabular amounts in millions, unless otherwise disclosed) As of December 31, 2019, the Company does not have material operating or financing leases that have not yet commenced. Maturities of operating and finance lease liabilities as of December 31, 2019 were as follows: (1) Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods. <table> <tbody> <tr><td>Fiscal Year</td><td>Operating Lease (1)</td><td>Finance Lease (1)</td></tr> <tr><td>2020</td><td>$904.3</td><td>$8.0</td></tr> <tr><td>2021</td><td>878.3</td><td>5.3</td></tr> <tr><td>2022</td><td>845.5</td><td>4.3</td></tr> <tr><td>2023</td><td>810.3</td><td>3.0</td></tr> <tr><td>2024</td><td>766.4</td><td>2.1</td></tr> <tr><td>Thereafter</td><td>6,140.1</td><td>45.4</td></tr> <tr><td>Total lease payments</td><td>10,344.9</td><td>68.1</td></tr> <tr><td>Less amounts representing interest</td><td>(3,340.0)</td><td>(37.4)</td></tr> <tr><td>Total lease liability</td><td>7,004.9</td><td>30.7</td></tr> <tr><td>Less current portion of lease liability</td><td>494.5</td><td>6.7</td></tr> <tr><td>Non-current lease liability</td><td>$6,510.4</td><td>$24.0</td></tr> </tbody> </table> |
If the acquisation of the company was S$150.3 million, all else constant, What is the value of 1 USD to SGD at time of calculation? | [
"1.42"
] | Acquisition of Fagerdala On October 2, 2017, the Company acquired Fagerdala Singapore Pte Ltd., a manufacturer and fabricator of polyethylene foam based in Singapore, to join its Product Care division. We acquired 100% of Fagerdala shares for estimated consideration of S$144.7 million, or $106.2 million, net of cash acquired of $13.3 million, inclusive of purchase price adjustments which were finalized in the third quarter of 2018. We acquired Fagerdala to leverage its manufacturing footprint in Asia, experience in foam manufacturing and fabrication and commercial organization to expand our presence across multiple industries utilizing fulfillment to distribute goods. The following table summarizes the consideration transferred to acquire Fagerdala and the final allocation of the purchase price among the assets acquired and liabilities assumed. price among the assets acquired and liabilities assumed. <table> <tbody> <tr><td></td><td>Preliminary Allocation</td><td>Measurement Period</td><td>Final Allocation</td></tr> <tr><td>(In millions)</td><td>As of October 2, 2017</td><td>Adjustments</td><td>As of December 31, 2018</td></tr> <tr><td>Total consideration transferred</td><td>$ 106.6</td><td>$ (0.4)</td><td>$ 106.2</td></tr> <tr><td>Assets:</td><td></td><td></td><td></td></tr> <tr><td>Cash and cash equivalents</td><td>13.3</td><td>—</td><td>13.3</td></tr> <tr><td>Trade receivables, net</td><td>22.4</td><td>—</td><td>22.4</td></tr> <tr><td>Inventories, net</td><td>10.0</td><td>0.1</td><td>10.1</td></tr> <tr><td>Prepaid expenses and other current assets</td><td>8.4</td><td>—</td><td>8.4</td></tr> <tr><td>Property and equipment, net</td><td>23.3</td><td>—</td><td>23.3</td></tr> <tr><td>Identifiable intangible assets, net</td><td>41.4</td><td>0.7</td><td>42.1</td></tr> <tr><td>Goodwill</td><td>39.3</td><td>(1.5)</td><td>37.8</td></tr> <tr><td>Total assets</td><td>$ 158.1</td><td>$ (0.7)</td><td>$ 157.4</td></tr> <tr><td>Liabilities:</td><td></td><td></td><td></td></tr> <tr><td>Short-term borrowings</td><td>14.0</td><td>—</td><td>14.0</td></tr> <tr><td>Accounts payable</td><td>6.9</td><td>—</td><td>6.9</td></tr> <tr><td>Other current liabilities</td><td>15.1</td><td>(0.1)</td><td>15.0</td></tr> <tr><td>Long-term debt, less current portion</td><td>3.8</td><td>—</td><td>3.8</td></tr> <tr><td>Non-current deferred taxes</td><td>11.7</td><td>(0.2)</td><td>11.5</td></tr> <tr><td>Total liabilities</td><td>$ 51.5</td><td>$ (0.3)</td><td>$ 51.2</td></tr> </tbody> </table> |
If total liabilities and assets As of December 31, 2018 were adjusted to 52.0(in millions) and 158.2(in millions) respectively, What is the asset to liability ratio As of December 31, 2018? | [
"32.87"
] | Acquisition of Fagerdala On October 2, 2017, the Company acquired Fagerdala Singapore Pte Ltd., a manufacturer and fabricator of polyethylene foam based in Singapore, to join its Product Care division. We acquired 100% of Fagerdala shares for estimated consideration of S$144.7 million, or $106.2 million, net of cash acquired of $13.3 million, inclusive of purchase price adjustments which were finalized in the third quarter of 2018. We acquired Fagerdala to leverage its manufacturing footprint in Asia, experience in foam manufacturing and fabrication and commercial organization to expand our presence across multiple industries utilizing fulfillment to distribute goods. The following table summarizes the consideration transferred to acquire Fagerdala and the final allocation of the purchase price among the assets acquired and liabilities assumed. price among the assets acquired and liabilities assumed. <table> <tbody> <tr><td></td><td>Preliminary Allocation</td><td>Measurement Period</td><td>Final Allocation</td></tr> <tr><td>(In millions)</td><td>As of October 2, 2017</td><td>Adjustments</td><td>As of December 31, 2018</td></tr> <tr><td>Total consideration transferred</td><td>$ 106.6</td><td>$ (0.4)</td><td>$ 106.2</td></tr> <tr><td>Assets:</td><td></td><td></td><td></td></tr> <tr><td>Cash and cash equivalents</td><td>13.3</td><td>—</td><td>13.3</td></tr> <tr><td>Trade receivables, net</td><td>22.4</td><td>—</td><td>22.4</td></tr> <tr><td>Inventories, net</td><td>10.0</td><td>0.1</td><td>10.1</td></tr> <tr><td>Prepaid expenses and other current assets</td><td>8.4</td><td>—</td><td>8.4</td></tr> <tr><td>Property and equipment, net</td><td>23.3</td><td>—</td><td>23.3</td></tr> <tr><td>Identifiable intangible assets, net</td><td>41.4</td><td>0.7</td><td>42.1</td></tr> <tr><td>Goodwill</td><td>39.3</td><td>(1.5)</td><td>37.8</td></tr> <tr><td>Total assets</td><td>$ 158.1</td><td>$ (0.7)</td><td>$ 157.4</td></tr> <tr><td>Liabilities:</td><td></td><td></td><td></td></tr> <tr><td>Short-term borrowings</td><td>14.0</td><td>—</td><td>14.0</td></tr> <tr><td>Accounts payable</td><td>6.9</td><td>—</td><td>6.9</td></tr> <tr><td>Other current liabilities</td><td>15.1</td><td>(0.1)</td><td>15.0</td></tr> <tr><td>Long-term debt, less current portion</td><td>3.8</td><td>—</td><td>3.8</td></tr> <tr><td>Non-current deferred taxes</td><td>11.7</td><td>(0.2)</td><td>11.5</td></tr> <tr><td>Total liabilities</td><td>$ 51.5</td><td>$ (0.3)</td><td>$ 51.2</td></tr> </tbody> </table> |
If the asset to liability ratio as of October 2, 2017 is 30%, What is the difference between the asset to liability ratio As of December 31, 2018 vs. As of October 2, 2017? | [
"2.53"
] | Acquisition of Fagerdala On October 2, 2017, the Company acquired Fagerdala Singapore Pte Ltd., a manufacturer and fabricator of polyethylene foam based in Singapore, to join its Product Care division. We acquired 100% of Fagerdala shares for estimated consideration of S$144.7 million, or $106.2 million, net of cash acquired of $13.3 million, inclusive of purchase price adjustments which were finalized in the third quarter of 2018. We acquired Fagerdala to leverage its manufacturing footprint in Asia, experience in foam manufacturing and fabrication and commercial organization to expand our presence across multiple industries utilizing fulfillment to distribute goods. The following table summarizes the consideration transferred to acquire Fagerdala and the final allocation of the purchase price among the assets acquired and liabilities assumed. price among the assets acquired and liabilities assumed. <table> <tbody> <tr><td></td><td>Preliminary Allocation</td><td>Measurement Period</td><td>Final Allocation</td></tr> <tr><td>(In millions)</td><td>As of October 2, 2017</td><td>Adjustments</td><td>As of December 31, 2018</td></tr> <tr><td>Total consideration transferred</td><td>$ 106.6</td><td>$ (0.4)</td><td>$ 106.2</td></tr> <tr><td>Assets:</td><td></td><td></td><td></td></tr> <tr><td>Cash and cash equivalents</td><td>13.3</td><td>—</td><td>13.3</td></tr> <tr><td>Trade receivables, net</td><td>22.4</td><td>—</td><td>22.4</td></tr> <tr><td>Inventories, net</td><td>10.0</td><td>0.1</td><td>10.1</td></tr> <tr><td>Prepaid expenses and other current assets</td><td>8.4</td><td>—</td><td>8.4</td></tr> <tr><td>Property and equipment, net</td><td>23.3</td><td>—</td><td>23.3</td></tr> <tr><td>Identifiable intangible assets, net</td><td>41.4</td><td>0.7</td><td>42.1</td></tr> <tr><td>Goodwill</td><td>39.3</td><td>(1.5)</td><td>37.8</td></tr> <tr><td>Total assets</td><td>$ 158.1</td><td>$ (0.7)</td><td>$ 157.4</td></tr> <tr><td>Liabilities:</td><td></td><td></td><td></td></tr> <tr><td>Short-term borrowings</td><td>14.0</td><td>—</td><td>14.0</td></tr> <tr><td>Accounts payable</td><td>6.9</td><td>—</td><td>6.9</td></tr> <tr><td>Other current liabilities</td><td>15.1</td><td>(0.1)</td><td>15.0</td></tr> <tr><td>Long-term debt, less current portion</td><td>3.8</td><td>—</td><td>3.8</td></tr> <tr><td>Non-current deferred taxes</td><td>11.7</td><td>(0.2)</td><td>11.5</td></tr> <tr><td>Total liabilities</td><td>$ 51.5</td><td>$ (0.3)</td><td>$ 51.2</td></tr> </tbody> </table> |
In which year would Cash and cash equivalents be larger if the amount in 2019 was $315,833 thousand instead? | [
"2019"
] | Additional sources of cash available to us were international currency lines of credit and bank credit facilities totaling $26.0 million as of September 28, 2019, of which $20.8 million was unused and available. These unsecured international credit facilities were used in Europe and Japan during fiscal 2018. As of September 28, 2019, we had utilized $5.2 million of the international credit facilities as guarantees in Europe. Our ratio of current assets to current liabilities increased to 4.6:1 at September 28, 2019 compared to 3.3:1 at September 29, 2018. The increase in our ratio was primarily due to lower income taxes payable, partially offset by decreases in our ratio due to lower accounts receivable and inventories. Our cash and cash equivalents, short-term investments and working capital are as follows (in thousands): <table> <tbody> <tr><td></td><td>Fiscal</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Cash and cash equivalents</td><td>$305,833</td><td>$310,495</td></tr> <tr><td>Short-term investments</td><td>120</td><td>120</td></tr> <tr><td>Working capital</td><td>854,507</td><td>865,664</td></tr> </tbody> </table> |
What would the change in Short-term investments in 2019 from 2018 be if the amount in 2019 was $150 thousand instead? | [
"30"
] | Additional sources of cash available to us were international currency lines of credit and bank credit facilities totaling $26.0 million as of September 28, 2019, of which $20.8 million was unused and available. These unsecured international credit facilities were used in Europe and Japan during fiscal 2018. As of September 28, 2019, we had utilized $5.2 million of the international credit facilities as guarantees in Europe. Our ratio of current assets to current liabilities increased to 4.6:1 at September 28, 2019 compared to 3.3:1 at September 29, 2018. The increase in our ratio was primarily due to lower income taxes payable, partially offset by decreases in our ratio due to lower accounts receivable and inventories. Our cash and cash equivalents, short-term investments and working capital are as follows (in thousands): <table> <tbody> <tr><td></td><td>Fiscal</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Cash and cash equivalents</td><td>$305,833</td><td>$310,495</td></tr> <tr><td>Short-term investments</td><td>120</td><td>120</td></tr> <tr><td>Working capital</td><td>854,507</td><td>865,664</td></tr> </tbody> </table> |
What would the percentage change in Short-term investments in 2019 from 2018 be if the amount in 2019 was $150 thousand instead? | [
"25"
] | Additional sources of cash available to us were international currency lines of credit and bank credit facilities totaling $26.0 million as of September 28, 2019, of which $20.8 million was unused and available. These unsecured international credit facilities were used in Europe and Japan during fiscal 2018. As of September 28, 2019, we had utilized $5.2 million of the international credit facilities as guarantees in Europe. Our ratio of current assets to current liabilities increased to 4.6:1 at September 28, 2019 compared to 3.3:1 at September 29, 2018. The increase in our ratio was primarily due to lower income taxes payable, partially offset by decreases in our ratio due to lower accounts receivable and inventories. Our cash and cash equivalents, short-term investments and working capital are as follows (in thousands): <table> <tbody> <tr><td></td><td>Fiscal</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Cash and cash equivalents</td><td>$305,833</td><td>$310,495</td></tr> <tr><td>Short-term investments</td><td>120</td><td>120</td></tr> <tr><td>Working capital</td><td>854,507</td><td>865,664</td></tr> </tbody> </table> |
What portion of term loan and notes, including interest have payment due more than 10 year if they took up 10% of the totals? | [
"437.33"
] | Contractual Obligations The following table summarizes our contractual obligations as of November 29, 2019: As of November 29, 2019, our Term Loan’s carrying value was $2.25 billion. At our election, the Term Loan will bear interest at either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin, based on our debt ratings, ranging from 0.500% to 1.000% or (ii) a base rate plus a margin, based on our debt ratings, ranging from 0.040% to 0.110%. Interest is payable periodically, in arrears, at the end of each interest period we elect. Based on the LIBOR rate at November 29, 2019, our estimated maximum commitment for interest payments was $23.2 million for the remaining duration of the Term Loan. As of November 29, 2019, the carrying value of our Notes payable was $1.89 billion. Interest on our Notes is payable semi-annually, in arrears on February 1 and August 1. At November 29, 2019, our maximum commitment for interest payments was $200.1 million for the remaining duration of our Notes. Our Term Loan and Revolving Credit Agreement contain similar financial covenants requiring us not to exceed a maximum leverage ratio. As of November 29, 2019, we were in compliance with this covenant. We believe this covenant will not impact our credit or cash in the coming fiscal year or restrict our ability to execute our business plan. Our senior notes do not contain any financial covenants. Under the terms of our Term Loan and Revolving Credit Agreement, we are not prohibited from paying cash dividends unless payment would trigger an event of default or if one currently exists. We do not anticipate paying any cash dividends in the foreseeable future. <table> <tbody> <tr><td>(in millions)</td><td></td><td></td><td>Payment Due by Period</td><td></td><td></td></tr> <tr><td></td><td>Total</td><td>Less than 1 year</td><td>1-3 years</td><td>3-5 years</td><td>More than 5 years</td></tr> <tr><td>Term Loan and Notes, including interest</td><td>$4,373.3</td><td>$3,227.0</td><td>$65.0</td><td>$65.0</td><td>$1,016.3</td></tr> <tr><td>Operating lease obligations, net</td><td>711.5</td><td>88.7</td><td>158.0</td><td>126.9</td><td>337.9</td></tr> <tr><td>Purchase obligations</td><td>2,036.5</td><td>545.0</td><td>935.8</td><td>555.7</td><td>—</td></tr> <tr><td>Total</td><td>$7,121.3</td><td>$3,860.7</td><td>$1,158.8</td><td>$747.6</td><td>$1,354.2</td></tr> </tbody> </table> |
If payment obligations due in less than a year increased by 20% without any change to total , what proportion of operating lease obligations (net) is made up of payment obligations due in less than a year? | [
"0.15"
] | Contractual Obligations The following table summarizes our contractual obligations as of November 29, 2019: As of November 29, 2019, our Term Loan’s carrying value was $2.25 billion. At our election, the Term Loan will bear interest at either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin, based on our debt ratings, ranging from 0.500% to 1.000% or (ii) a base rate plus a margin, based on our debt ratings, ranging from 0.040% to 0.110%. Interest is payable periodically, in arrears, at the end of each interest period we elect. Based on the LIBOR rate at November 29, 2019, our estimated maximum commitment for interest payments was $23.2 million for the remaining duration of the Term Loan. As of November 29, 2019, the carrying value of our Notes payable was $1.89 billion. Interest on our Notes is payable semi-annually, in arrears on February 1 and August 1. At November 29, 2019, our maximum commitment for interest payments was $200.1 million for the remaining duration of our Notes. Our Term Loan and Revolving Credit Agreement contain similar financial covenants requiring us not to exceed a maximum leverage ratio. As of November 29, 2019, we were in compliance with this covenant. We believe this covenant will not impact our credit or cash in the coming fiscal year or restrict our ability to execute our business plan. Our senior notes do not contain any financial covenants. Under the terms of our Term Loan and Revolving Credit Agreement, we are not prohibited from paying cash dividends unless payment would trigger an event of default or if one currently exists. We do not anticipate paying any cash dividends in the foreseeable future. <table> <tbody> <tr><td>(in millions)</td><td></td><td></td><td>Payment Due by Period</td><td></td><td></td></tr> <tr><td></td><td>Total</td><td>Less than 1 year</td><td>1-3 years</td><td>3-5 years</td><td>More than 5 years</td></tr> <tr><td>Term Loan and Notes, including interest</td><td>$4,373.3</td><td>$3,227.0</td><td>$65.0</td><td>$65.0</td><td>$1,016.3</td></tr> <tr><td>Operating lease obligations, net</td><td>711.5</td><td>88.7</td><td>158.0</td><td>126.9</td><td>337.9</td></tr> <tr><td>Purchase obligations</td><td>2,036.5</td><td>545.0</td><td>935.8</td><td>555.7</td><td>—</td></tr> <tr><td>Total</td><td>$7,121.3</td><td>$3,860.7</td><td>$1,158.8</td><td>$747.6</td><td>$1,354.2</td></tr> </tbody> </table> |
If purchase obligations with payment due period of more than 5 years has a value of $472.3 million, what proportion of total purchase obligations is made of up obligations with a maximum period of 3 years? | [
"0.59"
] | Contractual Obligations The following table summarizes our contractual obligations as of November 29, 2019: As of November 29, 2019, our Term Loan’s carrying value was $2.25 billion. At our election, the Term Loan will bear interest at either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin, based on our debt ratings, ranging from 0.500% to 1.000% or (ii) a base rate plus a margin, based on our debt ratings, ranging from 0.040% to 0.110%. Interest is payable periodically, in arrears, at the end of each interest period we elect. Based on the LIBOR rate at November 29, 2019, our estimated maximum commitment for interest payments was $23.2 million for the remaining duration of the Term Loan. As of November 29, 2019, the carrying value of our Notes payable was $1.89 billion. Interest on our Notes is payable semi-annually, in arrears on February 1 and August 1. At November 29, 2019, our maximum commitment for interest payments was $200.1 million for the remaining duration of our Notes. Our Term Loan and Revolving Credit Agreement contain similar financial covenants requiring us not to exceed a maximum leverage ratio. As of November 29, 2019, we were in compliance with this covenant. We believe this covenant will not impact our credit or cash in the coming fiscal year or restrict our ability to execute our business plan. Our senior notes do not contain any financial covenants. Under the terms of our Term Loan and Revolving Credit Agreement, we are not prohibited from paying cash dividends unless payment would trigger an event of default or if one currently exists. We do not anticipate paying any cash dividends in the foreseeable future. <table> <tbody> <tr><td>(in millions)</td><td></td><td></td><td>Payment Due by Period</td><td></td><td></td></tr> <tr><td></td><td>Total</td><td>Less than 1 year</td><td>1-3 years</td><td>3-5 years</td><td>More than 5 years</td></tr> <tr><td>Term Loan and Notes, including interest</td><td>$4,373.3</td><td>$3,227.0</td><td>$65.0</td><td>$65.0</td><td>$1,016.3</td></tr> <tr><td>Operating lease obligations, net</td><td>711.5</td><td>88.7</td><td>158.0</td><td>126.9</td><td>337.9</td></tr> <tr><td>Purchase obligations</td><td>2,036.5</td><td>545.0</td><td>935.8</td><td>555.7</td><td>—</td></tr> <tr><td>Total</td><td>$7,121.3</td><td>$3,860.7</td><td>$1,158.8</td><td>$747.6</td><td>$1,354.2</td></tr> </tbody> </table> |
What would be the average domestic income before income taxes in 2017 and 2018 if income in 2018 is decreased by $100,000? | [
"58014"
] | 5. Income taxes: On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "TCJA"). The TCJA amended the Internal Revenue Code and reduced the corporate tax rate from a maximum of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018. The Company's net deferred tax assets represent a decrease in corporate taxes expected to be paid in the future. Under generally accepted accounting principles deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company's net deferred tax asset was determined based on the current enacted federal tax rate of 35% prior to the passage of the Act. As a result of the reduction in the corporate income tax rate from 35% to 21% and other provisions under the TCJA, the Company made reasonable estimates of the effects of the TCJA and revalued its net deferred tax asset at December 31, 2017 resulting in a reduction in the value of its net deferred tax asset of approximately $9.0 million and recorded a transition tax of $2.3 million related to its foreign operations for a total of $11.3 million, which was recorded as additional noncash income tax expense in the year ended December 31, 2017. As of December 31, 2018, the Company had collected all of the necessary data to complete its analysis of the effect of the TCJA on its underlying deferred income taxes and recorded a $0.1 million reduction in the value to its net deferred tax asset. The TCJA subjects a U.S. shareholder to current tax on global intangible low-taxed income earned by certain foreign subsidiaries. FASB Staff Q&A, Topic 740, No. 5, "Accounting for Global Intangible Low-Taxed Income", states that the Company is permitted to make an accounting policy election to either recognize deferred income taxes for temporary basis differences expected to reverse as global intangible low-taxed income in future years or provide for the income tax expense related to such income in the year the income tax is incurred. The Company has made an accounting policy to record these income taxes as a period cost in the year the income tax in incurred. The components of income (loss) before income taxes consist of the following (in thousands): <table> <tbody> <tr><td></td><td></td><td>Years Ended December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td><td>2017</td></tr> <tr><td>Domestic</td><td>$72,773</td><td>$63,878</td><td>$52,250</td></tr> <tr><td>Foreign</td><td>(20,099)</td><td>(22,496)</td><td>(21,132)</td></tr> <tr><td>Total income before income taxes</td><td>$52,674</td><td>$41,382</td><td>$31,118</td></tr> </tbody> </table> |
What would be the average domestic income before income taxes in 2018 and 2019 if the income before taxes in 2019 is doubled? | [
"104712"
] | 5. Income taxes: On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "TCJA"). The TCJA amended the Internal Revenue Code and reduced the corporate tax rate from a maximum of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018. The Company's net deferred tax assets represent a decrease in corporate taxes expected to be paid in the future. Under generally accepted accounting principles deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company's net deferred tax asset was determined based on the current enacted federal tax rate of 35% prior to the passage of the Act. As a result of the reduction in the corporate income tax rate from 35% to 21% and other provisions under the TCJA, the Company made reasonable estimates of the effects of the TCJA and revalued its net deferred tax asset at December 31, 2017 resulting in a reduction in the value of its net deferred tax asset of approximately $9.0 million and recorded a transition tax of $2.3 million related to its foreign operations for a total of $11.3 million, which was recorded as additional noncash income tax expense in the year ended December 31, 2017. As of December 31, 2018, the Company had collected all of the necessary data to complete its analysis of the effect of the TCJA on its underlying deferred income taxes and recorded a $0.1 million reduction in the value to its net deferred tax asset. The TCJA subjects a U.S. shareholder to current tax on global intangible low-taxed income earned by certain foreign subsidiaries. FASB Staff Q&A, Topic 740, No. 5, "Accounting for Global Intangible Low-Taxed Income", states that the Company is permitted to make an accounting policy election to either recognize deferred income taxes for temporary basis differences expected to reverse as global intangible low-taxed income in future years or provide for the income tax expense related to such income in the year the income tax is incurred. The Company has made an accounting policy to record these income taxes as a period cost in the year the income tax in incurred. The components of income (loss) before income taxes consist of the following (in thousands): <table> <tbody> <tr><td></td><td></td><td>Years Ended December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td><td>2017</td></tr> <tr><td>Domestic</td><td>$72,773</td><td>$63,878</td><td>$52,250</td></tr> <tr><td>Foreign</td><td>(20,099)</td><td>(22,496)</td><td>(21,132)</td></tr> <tr><td>Total income before income taxes</td><td>$52,674</td><td>$41,382</td><td>$31,118</td></tr> </tbody> </table> |
What would be the average foreign losses before income taxes in 2017 and 2018 if the loss in 2018 is decreased by 70%? | [
"13940.4"
] | 5. Income taxes: On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the "TCJA"). The TCJA amended the Internal Revenue Code and reduced the corporate tax rate from a maximum of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018. The Company's net deferred tax assets represent a decrease in corporate taxes expected to be paid in the future. Under generally accepted accounting principles deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company's net deferred tax asset was determined based on the current enacted federal tax rate of 35% prior to the passage of the Act. As a result of the reduction in the corporate income tax rate from 35% to 21% and other provisions under the TCJA, the Company made reasonable estimates of the effects of the TCJA and revalued its net deferred tax asset at December 31, 2017 resulting in a reduction in the value of its net deferred tax asset of approximately $9.0 million and recorded a transition tax of $2.3 million related to its foreign operations for a total of $11.3 million, which was recorded as additional noncash income tax expense in the year ended December 31, 2017. As of December 31, 2018, the Company had collected all of the necessary data to complete its analysis of the effect of the TCJA on its underlying deferred income taxes and recorded a $0.1 million reduction in the value to its net deferred tax asset. The TCJA subjects a U.S. shareholder to current tax on global intangible low-taxed income earned by certain foreign subsidiaries. FASB Staff Q&A, Topic 740, No. 5, "Accounting for Global Intangible Low-Taxed Income", states that the Company is permitted to make an accounting policy election to either recognize deferred income taxes for temporary basis differences expected to reverse as global intangible low-taxed income in future years or provide for the income tax expense related to such income in the year the income tax is incurred. The Company has made an accounting policy to record these income taxes as a period cost in the year the income tax in incurred. The components of income (loss) before income taxes consist of the following (in thousands): <table> <tbody> <tr><td></td><td></td><td>Years Ended December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td><td>2017</td></tr> <tr><td>Domestic</td><td>$72,773</td><td>$63,878</td><td>$52,250</td></tr> <tr><td>Foreign</td><td>(20,099)</td><td>(22,496)</td><td>(21,132)</td></tr> <tr><td>Total income before income taxes</td><td>$52,674</td><td>$41,382</td><td>$31,118</td></tr> </tbody> </table> |
In which Fiscal year from 2020 to 2024 would the benefit payments under the U.S Plans be the largest if the amount for Fiscal 2021 was $78 million instead? | [
"Fiscal 2021"
] | Our common shares are not a direct investment of our pension funds; however, the pension funds may indirectly include our shares. The aggregate amount of our common shares would not be considered material relative to the total pension fund assets. Our funding policy is to make contributions in accordance with the laws and customs of the various countries in which we operate as well as to make discretionary voluntary contributions from time to time. We expect to make the minimum required contributions of $42 million and $26 million to our non-U.S. and U.S. pension plans, respectively, in fiscal 2020. We may also make voluntary contributions at our discretion. At fiscal year end 2019, benefit payments, which reflect future expected service, as appropriate, are expected to be paid as follows: <table> <tbody> <tr><td></td><td>Non-U.S. Plans</td><td>U.S. Plans</td></tr> <tr><td></td><td></td><td>(in millions)</td></tr> <tr><td>Fiscal 2020</td><td>$ 82</td><td>$ 77</td></tr> <tr><td>Fiscal 2021</td><td>77</td><td>74</td></tr> <tr><td>Fiscal 2022</td><td>81</td><td>74</td></tr> <tr><td>Fiscal 2023</td><td>85</td><td>74</td></tr> <tr><td>Fiscal 2024</td><td>86</td><td>74</td></tr> <tr><td>Fiscal 2025-2029</td><td>490</td><td>361</td></tr> </tbody> </table> |
What is the change in Non-U.S. benefit payments expected to be paid in Fiscal 2023 from Fiscal 2022 if the amount in 2023 was $86 million instead? | [
"5"
] | Our common shares are not a direct investment of our pension funds; however, the pension funds may indirectly include our shares. The aggregate amount of our common shares would not be considered material relative to the total pension fund assets. Our funding policy is to make contributions in accordance with the laws and customs of the various countries in which we operate as well as to make discretionary voluntary contributions from time to time. We expect to make the minimum required contributions of $42 million and $26 million to our non-U.S. and U.S. pension plans, respectively, in fiscal 2020. We may also make voluntary contributions at our discretion. At fiscal year end 2019, benefit payments, which reflect future expected service, as appropriate, are expected to be paid as follows: <table> <tbody> <tr><td></td><td>Non-U.S. Plans</td><td>U.S. Plans</td></tr> <tr><td></td><td></td><td>(in millions)</td></tr> <tr><td>Fiscal 2020</td><td>$ 82</td><td>$ 77</td></tr> <tr><td>Fiscal 2021</td><td>77</td><td>74</td></tr> <tr><td>Fiscal 2022</td><td>81</td><td>74</td></tr> <tr><td>Fiscal 2023</td><td>85</td><td>74</td></tr> <tr><td>Fiscal 2024</td><td>86</td><td>74</td></tr> <tr><td>Fiscal 2025-2029</td><td>490</td><td>361</td></tr> </tbody> </table> |
What is the percentage change in Non-U.S. benefit payments expected to be paid in Fiscal 2023 from Fiscal 2022 if the amount in 2023 was $86 million instead? | [
"6.17"
] | Our common shares are not a direct investment of our pension funds; however, the pension funds may indirectly include our shares. The aggregate amount of our common shares would not be considered material relative to the total pension fund assets. Our funding policy is to make contributions in accordance with the laws and customs of the various countries in which we operate as well as to make discretionary voluntary contributions from time to time. We expect to make the minimum required contributions of $42 million and $26 million to our non-U.S. and U.S. pension plans, respectively, in fiscal 2020. We may also make voluntary contributions at our discretion. At fiscal year end 2019, benefit payments, which reflect future expected service, as appropriate, are expected to be paid as follows: <table> <tbody> <tr><td></td><td>Non-U.S. Plans</td><td>U.S. Plans</td></tr> <tr><td></td><td></td><td>(in millions)</td></tr> <tr><td>Fiscal 2020</td><td>$ 82</td><td>$ 77</td></tr> <tr><td>Fiscal 2021</td><td>77</td><td>74</td></tr> <tr><td>Fiscal 2022</td><td>81</td><td>74</td></tr> <tr><td>Fiscal 2023</td><td>85</td><td>74</td></tr> <tr><td>Fiscal 2024</td><td>86</td><td>74</td></tr> <tr><td>Fiscal 2025-2029</td><td>490</td><td>361</td></tr> </tbody> </table> |
What would be the average service revenue earned by the company in 2017 and 2018 if the revenue in 2018 is decreased by $100,000,000? | [
"452684"
] | Year Ended December 31, 2018 Compared to the Year Ended December 31, 2017 Our management reviews and analyzes several key financial measures in order to manage our business and assess the quality of and variability of our service revenue, operating results and cash flows. The following summary tables present a comparison of our results of operations with respect to certain key financial measures. The comparisons illustrated in the tables are discussed in greater detail below. (1) Includes non-cash equity-based compensation expense of $895 and $604 for 2018 and 2017, respectively. (2) Includes non-cash equity-based compensation expense of $16,813 and $12,686 for 2018 and 2017, respectively. Service Revenue. Our service revenue increased 7.2% from 2017 to 2018. Exchange rates positively impacted our increase in service revenue by approximately $4.0 million. All foreign currency comparisons herein reflect results for 2018 translated at the average foreign currency exchange rates for 2017. We increased our total service revenue by increasing the number of sales representatives selling our services, by expanding our network, by adding additional buildings to our network, by increasing our penetration into the buildings connected to our network and by gaining market share by offering our services at lower prices than our competitors. Revenue recognition standards include guidance relating to any tax assessed by a governmental authority that is directly imposed on a revenue-producing transaction between a seller and a customer and may include, but is not limited to, gross receipts taxes, Universal Service Fund fees and certain state regulatory fees. We record these taxes billed to our customers on a gross basis (as service revenue and network operations expense) in our consolidated statements of operations. The impact of these taxes including the Universal Service Fund resulted in an increase to our revenues from 2017 to 2018 of approximately $1.6 million. Our net-centric customers tend to purchase their service on a price per megabit basis. Our corporate customers tend to utilize a small portion of their allocated bandwidth on their connections and tend to purchase their service on a per connection basis. Revenues from our corporate and net-centric customers represented 64.9% and 35.1% of total service revenue, respectively, for 2018 and represented 62.3% and 37.7% of total service revenue, respectively, for 2017. Revenues from corporate customers increased 11.8% to $337.8 million for 2018 from $302.1 million for 2017 primarily due to an increase in our number of our corporate customers. Revenues from our net-centric customers decreased by 0.4% to $182.3 million for 2018 from $183.1 million for 2017 primarily due to an increase in our number of net-centric customers being offset by a decline in our average price per megabit. Our revenue from our net- centric customers has declined as a percentage of our total revenue and grew at a slower rate than our corporate customer revenue because net-centric customers purchase our services based upon a price per megabit basis and our average price per megabit declined by 25.9% from 2017 to 2018. Additionally, the net-centric market experiences a greater level of pricing pressure than the corporate market and net-centric customers who renew their service with us expect their renewed service to be at a lower price than their current price. We expect that our average price per megabit will continue to decline at similar rates which would result in our corporate revenues continuing to represent a greater portion of our total revenues and our net-centric revenues continuing to grow at a lower rate than our corporate revenues. Additionally, the impact of foreign exchange rates has a more significant impact on our net- centric revenues. Our on-net revenues increased 8.1% from 2017 to 2018. We increased the number of our on-net customer connections by 12.1% at December 31, 2018 from December 31, 2017. On-net customer connections increased at a greater rate than on-net revenues primarily due to the 5.1% decline in our on-net ARPU, primarily from a decline in ARPU for our net-centric customers. ARPU is determined by dividing revenue for the period by the average customer connections for that period. Our average price per megabit for our installed base of customers is determined by dividing the aggregate monthly recurring fixed charges for those customers by the aggregate committed data rate for the same customers. The decline in on-net ARPU is partly attributed to volume and term based pricing discounts. Additionally, on-net customers who cancel their service from our installed base of customers, in general, have an ARPU that is greater than the ARPU for our new customers due to declining prices primarily for our on-net services sold to our net-centric customers. These trends resulted in the reduction to our on-net ARPU and a 25.9% decline in our average price per megabit for our installed base of customers. Our off-net revenues increased 5.2% from 2017 to 2018. Our off-net revenues increased as we increased the number of our off-net customer connections by 10.3% at December 31, 2018 from December 31, 2017. Our off-net customer connections increased at a greater rate than our off-net revenue primarily due to the 6.8% decrease in our off-net ARPU. Network Operations Expenses. Network operations expenses include the costs of personnel associated with service delivery, network management, and customer support, network facilities costs, fiber and equipment maintenance fees, leased circuit costs, access and facilities fees paid to building owners and excise taxes billed to our customers and recorded on a gross basis. Non-cash equity-based compensation expense is included in network operations expenses consistent with the classification of the employee's salary and other compensation. Our network operations expenses, including non-cash equity-based compensation expense, increased 4.9% from 2017 to 2018 as we were connected to 11.9% more customer connections and we were connected to 170 more on-net buildings as of December 31, 2018 compared to December 31, 2017. The increase in network operations expense is primarily attributable to an increase in costs related to our network and facilities expansion activities and the increase in our off- net revenues. When we provide off-net services we also assume the cost of the associated tail circuits. Selling, General, and Administrative Expenses (“SG&A”). Our SG&A expenses, including non-cash equity- based compensation expense, increased 4.6% from 2017 to 2018. Non cash equity-based compensation expense is included in SG&A expenses consistent with the classification of the employee's salary and other compensation and was $16.8 million for 2018 and $12.7 million for 2017. SG&A expenses increased primarily from an increase in salaries and related costs required to support our expansion and increases in our sales efforts and an increase in our headcount partly offset by a $1.1 million decrease in our legal fees primarily associated with U.S. net neutrality and interconnection regulatory matters and by the $1.3 million reduction in commission expense from the impact of the new revenue accounting standard which requires us to capitalize certain commissions paid to our sales agents and sales employees. Our sales force headcount increased by 7.8% from 574 at December 31, 2017 to 619 at December 31, 2018 and our total headcount increased by 4.8% from 929 at December 31, 2017 to 974 at December 31, 2018. Depreciation and Amortization Expenses. Our depreciation and amortization expenses increased 7.0% from 2017 to 2018. The increase is primarily due to the depreciation expense associated with the increase related to newly deployed fixed assets more than offsetting the decline in depreciation expense from fully depreciated fixed assets. Gains on Equipment Transactions. We exchanged certain used network equipment and cash consideration for new network equipment resulting in gains of $1.0 million for 2018 and $3.9 million for 2017. The gains are based upon the excess of the estimated fair value of the new network equipment over the carrying amount of the returned used network equipment and the cash paid. The reduction in gains from 2017 to 2018 was due to purchasing more equipment under the exchange program in 2017 than we purchased in 2018. Interest Expense. Interest expense results from interest incurred on our $445.0 million of senior secured notes, interest incurred on our $189.2 million of senior unsecured notes, interest on our installment payment agreement and interest on our finance lease obligations. Our interest expense increased by 5.3% for 2018 from 2017 primarily due to the issuance of $70.0 million of senior secured notes in August 2018 and an increase in our finance lease obligations. Income Tax Expense. Our income tax expense was $12.7 million for 2018 and $25.2 million for 2017. The decrease in our income tax expense was primarily related to an increase in deferred income tax expense for 2017 primarily due to the impact of the Tax Cuts and Jobs Act (the "Act"). On December 22, 2017, the President of the United States signed into law the Act. The Act amended the Internal Revenue Code and reduced the corporate tax rate from a maximum rate of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018 and may reduce our future income taxes payable once we become a cash taxpayer in the United States. As a result of the reduction in the corporate income tax rate and other provisions under the Act, we were required to revalue our net deferred tax asset at December 31, 2017 resulting in a reduction in our net deferred tax asset of $9.0 million and we also recorded a transition tax of $2.3 million related to our foreign operations for a total income tax expense of approximately $11.3 million, which was recorded as additional noncash income tax expense in 2017. Buildings On-net. As of December 31, 2018 and 2017 we had a total of 2,676 and 2,506 on-net buildings connected to our network, respectively. <table> <tbody> <tr><td></td><td>Year Ended December 31,</td><td></td><td>Change</td></tr> <tr><td></td><td>2018</td><td>2017</td><td>Percent</td></tr> <tr><td></td><td>(in thousands)</td><td></td><td></td></tr> <tr><td>Service revenue</td><td>$520,193</td><td>$485,175</td><td>7.2%</td></tr> <tr><td>On-net revenues</td><td>374,555</td><td>346,445</td><td>8.1%</td></tr> <tr><td>Off-net revenues</td><td>145,004</td><td>137,892</td><td>5.2%</td></tr> <tr><td>Network operations expenses(1)</td><td>219,526</td><td>209,278</td><td>4.9%</td></tr> <tr><td>Selling, general, and administrative expenses(2)</td><td>133,858</td><td>127,915</td><td>4.6%</td></tr> <tr><td>Depreciation and amortization expenses</td><td>81,233</td><td>75,926</td><td>7.0%</td></tr> <tr><td>Gains on equipment transactions</td><td>982</td><td>3,862</td><td>(74.6)%</td></tr> <tr><td>Interest expense</td><td>51,056</td><td>48,467</td><td>5.3%</td></tr> <tr><td>Income tax expense</td><td>12,715</td><td>25,242</td><td>(49.6)%</td></tr> </tbody> </table> |
What would be the average on-net revenue earned by the company in 2017 and 2018 if the revenue earned in 2018 is doubled? | [
"547777.5"
] | Year Ended December 31, 2018 Compared to the Year Ended December 31, 2017 Our management reviews and analyzes several key financial measures in order to manage our business and assess the quality of and variability of our service revenue, operating results and cash flows. The following summary tables present a comparison of our results of operations with respect to certain key financial measures. The comparisons illustrated in the tables are discussed in greater detail below. (1) Includes non-cash equity-based compensation expense of $895 and $604 for 2018 and 2017, respectively. (2) Includes non-cash equity-based compensation expense of $16,813 and $12,686 for 2018 and 2017, respectively. Service Revenue. Our service revenue increased 7.2% from 2017 to 2018. Exchange rates positively impacted our increase in service revenue by approximately $4.0 million. All foreign currency comparisons herein reflect results for 2018 translated at the average foreign currency exchange rates for 2017. We increased our total service revenue by increasing the number of sales representatives selling our services, by expanding our network, by adding additional buildings to our network, by increasing our penetration into the buildings connected to our network and by gaining market share by offering our services at lower prices than our competitors. Revenue recognition standards include guidance relating to any tax assessed by a governmental authority that is directly imposed on a revenue-producing transaction between a seller and a customer and may include, but is not limited to, gross receipts taxes, Universal Service Fund fees and certain state regulatory fees. We record these taxes billed to our customers on a gross basis (as service revenue and network operations expense) in our consolidated statements of operations. The impact of these taxes including the Universal Service Fund resulted in an increase to our revenues from 2017 to 2018 of approximately $1.6 million. Our net-centric customers tend to purchase their service on a price per megabit basis. Our corporate customers tend to utilize a small portion of their allocated bandwidth on their connections and tend to purchase their service on a per connection basis. Revenues from our corporate and net-centric customers represented 64.9% and 35.1% of total service revenue, respectively, for 2018 and represented 62.3% and 37.7% of total service revenue, respectively, for 2017. Revenues from corporate customers increased 11.8% to $337.8 million for 2018 from $302.1 million for 2017 primarily due to an increase in our number of our corporate customers. Revenues from our net-centric customers decreased by 0.4% to $182.3 million for 2018 from $183.1 million for 2017 primarily due to an increase in our number of net-centric customers being offset by a decline in our average price per megabit. Our revenue from our net- centric customers has declined as a percentage of our total revenue and grew at a slower rate than our corporate customer revenue because net-centric customers purchase our services based upon a price per megabit basis and our average price per megabit declined by 25.9% from 2017 to 2018. Additionally, the net-centric market experiences a greater level of pricing pressure than the corporate market and net-centric customers who renew their service with us expect their renewed service to be at a lower price than their current price. We expect that our average price per megabit will continue to decline at similar rates which would result in our corporate revenues continuing to represent a greater portion of our total revenues and our net-centric revenues continuing to grow at a lower rate than our corporate revenues. Additionally, the impact of foreign exchange rates has a more significant impact on our net- centric revenues. Our on-net revenues increased 8.1% from 2017 to 2018. We increased the number of our on-net customer connections by 12.1% at December 31, 2018 from December 31, 2017. On-net customer connections increased at a greater rate than on-net revenues primarily due to the 5.1% decline in our on-net ARPU, primarily from a decline in ARPU for our net-centric customers. ARPU is determined by dividing revenue for the period by the average customer connections for that period. Our average price per megabit for our installed base of customers is determined by dividing the aggregate monthly recurring fixed charges for those customers by the aggregate committed data rate for the same customers. The decline in on-net ARPU is partly attributed to volume and term based pricing discounts. Additionally, on-net customers who cancel their service from our installed base of customers, in general, have an ARPU that is greater than the ARPU for our new customers due to declining prices primarily for our on-net services sold to our net-centric customers. These trends resulted in the reduction to our on-net ARPU and a 25.9% decline in our average price per megabit for our installed base of customers. Our off-net revenues increased 5.2% from 2017 to 2018. Our off-net revenues increased as we increased the number of our off-net customer connections by 10.3% at December 31, 2018 from December 31, 2017. Our off-net customer connections increased at a greater rate than our off-net revenue primarily due to the 6.8% decrease in our off-net ARPU. Network Operations Expenses. Network operations expenses include the costs of personnel associated with service delivery, network management, and customer support, network facilities costs, fiber and equipment maintenance fees, leased circuit costs, access and facilities fees paid to building owners and excise taxes billed to our customers and recorded on a gross basis. Non-cash equity-based compensation expense is included in network operations expenses consistent with the classification of the employee's salary and other compensation. Our network operations expenses, including non-cash equity-based compensation expense, increased 4.9% from 2017 to 2018 as we were connected to 11.9% more customer connections and we were connected to 170 more on-net buildings as of December 31, 2018 compared to December 31, 2017. The increase in network operations expense is primarily attributable to an increase in costs related to our network and facilities expansion activities and the increase in our off- net revenues. When we provide off-net services we also assume the cost of the associated tail circuits. Selling, General, and Administrative Expenses (“SG&A”). Our SG&A expenses, including non-cash equity- based compensation expense, increased 4.6% from 2017 to 2018. Non cash equity-based compensation expense is included in SG&A expenses consistent with the classification of the employee's salary and other compensation and was $16.8 million for 2018 and $12.7 million for 2017. SG&A expenses increased primarily from an increase in salaries and related costs required to support our expansion and increases in our sales efforts and an increase in our headcount partly offset by a $1.1 million decrease in our legal fees primarily associated with U.S. net neutrality and interconnection regulatory matters and by the $1.3 million reduction in commission expense from the impact of the new revenue accounting standard which requires us to capitalize certain commissions paid to our sales agents and sales employees. Our sales force headcount increased by 7.8% from 574 at December 31, 2017 to 619 at December 31, 2018 and our total headcount increased by 4.8% from 929 at December 31, 2017 to 974 at December 31, 2018. Depreciation and Amortization Expenses. Our depreciation and amortization expenses increased 7.0% from 2017 to 2018. The increase is primarily due to the depreciation expense associated with the increase related to newly deployed fixed assets more than offsetting the decline in depreciation expense from fully depreciated fixed assets. Gains on Equipment Transactions. We exchanged certain used network equipment and cash consideration for new network equipment resulting in gains of $1.0 million for 2018 and $3.9 million for 2017. The gains are based upon the excess of the estimated fair value of the new network equipment over the carrying amount of the returned used network equipment and the cash paid. The reduction in gains from 2017 to 2018 was due to purchasing more equipment under the exchange program in 2017 than we purchased in 2018. Interest Expense. Interest expense results from interest incurred on our $445.0 million of senior secured notes, interest incurred on our $189.2 million of senior unsecured notes, interest on our installment payment agreement and interest on our finance lease obligations. Our interest expense increased by 5.3% for 2018 from 2017 primarily due to the issuance of $70.0 million of senior secured notes in August 2018 and an increase in our finance lease obligations. Income Tax Expense. Our income tax expense was $12.7 million for 2018 and $25.2 million for 2017. The decrease in our income tax expense was primarily related to an increase in deferred income tax expense for 2017 primarily due to the impact of the Tax Cuts and Jobs Act (the "Act"). On December 22, 2017, the President of the United States signed into law the Act. The Act amended the Internal Revenue Code and reduced the corporate tax rate from a maximum rate of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018 and may reduce our future income taxes payable once we become a cash taxpayer in the United States. As a result of the reduction in the corporate income tax rate and other provisions under the Act, we were required to revalue our net deferred tax asset at December 31, 2017 resulting in a reduction in our net deferred tax asset of $9.0 million and we also recorded a transition tax of $2.3 million related to our foreign operations for a total income tax expense of approximately $11.3 million, which was recorded as additional noncash income tax expense in 2017. Buildings On-net. As of December 31, 2018 and 2017 we had a total of 2,676 and 2,506 on-net buildings connected to our network, respectively. <table> <tbody> <tr><td></td><td>Year Ended December 31,</td><td></td><td>Change</td></tr> <tr><td></td><td>2018</td><td>2017</td><td>Percent</td></tr> <tr><td></td><td>(in thousands)</td><td></td><td></td></tr> <tr><td>Service revenue</td><td>$520,193</td><td>$485,175</td><td>7.2%</td></tr> <tr><td>On-net revenues</td><td>374,555</td><td>346,445</td><td>8.1%</td></tr> <tr><td>Off-net revenues</td><td>145,004</td><td>137,892</td><td>5.2%</td></tr> <tr><td>Network operations expenses(1)</td><td>219,526</td><td>209,278</td><td>4.9%</td></tr> <tr><td>Selling, general, and administrative expenses(2)</td><td>133,858</td><td>127,915</td><td>4.6%</td></tr> <tr><td>Depreciation and amortization expenses</td><td>81,233</td><td>75,926</td><td>7.0%</td></tr> <tr><td>Gains on equipment transactions</td><td>982</td><td>3,862</td><td>(74.6)%</td></tr> <tr><td>Interest expense</td><td>51,056</td><td>48,467</td><td>5.3%</td></tr> <tr><td>Income tax expense</td><td>12,715</td><td>25,242</td><td>(49.6)%</td></tr> </tbody> </table> |
What would be the average off-net revenue earned by the company in 2017 and 2018 if the revenue earned in 2018 is decreased by 60%? | [
"97946.8"
] | Year Ended December 31, 2018 Compared to the Year Ended December 31, 2017 Our management reviews and analyzes several key financial measures in order to manage our business and assess the quality of and variability of our service revenue, operating results and cash flows. The following summary tables present a comparison of our results of operations with respect to certain key financial measures. The comparisons illustrated in the tables are discussed in greater detail below. (1) Includes non-cash equity-based compensation expense of $895 and $604 for 2018 and 2017, respectively. (2) Includes non-cash equity-based compensation expense of $16,813 and $12,686 for 2018 and 2017, respectively. Service Revenue. Our service revenue increased 7.2% from 2017 to 2018. Exchange rates positively impacted our increase in service revenue by approximately $4.0 million. All foreign currency comparisons herein reflect results for 2018 translated at the average foreign currency exchange rates for 2017. We increased our total service revenue by increasing the number of sales representatives selling our services, by expanding our network, by adding additional buildings to our network, by increasing our penetration into the buildings connected to our network and by gaining market share by offering our services at lower prices than our competitors. Revenue recognition standards include guidance relating to any tax assessed by a governmental authority that is directly imposed on a revenue-producing transaction between a seller and a customer and may include, but is not limited to, gross receipts taxes, Universal Service Fund fees and certain state regulatory fees. We record these taxes billed to our customers on a gross basis (as service revenue and network operations expense) in our consolidated statements of operations. The impact of these taxes including the Universal Service Fund resulted in an increase to our revenues from 2017 to 2018 of approximately $1.6 million. Our net-centric customers tend to purchase their service on a price per megabit basis. Our corporate customers tend to utilize a small portion of their allocated bandwidth on their connections and tend to purchase their service on a per connection basis. Revenues from our corporate and net-centric customers represented 64.9% and 35.1% of total service revenue, respectively, for 2018 and represented 62.3% and 37.7% of total service revenue, respectively, for 2017. Revenues from corporate customers increased 11.8% to $337.8 million for 2018 from $302.1 million for 2017 primarily due to an increase in our number of our corporate customers. Revenues from our net-centric customers decreased by 0.4% to $182.3 million for 2018 from $183.1 million for 2017 primarily due to an increase in our number of net-centric customers being offset by a decline in our average price per megabit. Our revenue from our net- centric customers has declined as a percentage of our total revenue and grew at a slower rate than our corporate customer revenue because net-centric customers purchase our services based upon a price per megabit basis and our average price per megabit declined by 25.9% from 2017 to 2018. Additionally, the net-centric market experiences a greater level of pricing pressure than the corporate market and net-centric customers who renew their service with us expect their renewed service to be at a lower price than their current price. We expect that our average price per megabit will continue to decline at similar rates which would result in our corporate revenues continuing to represent a greater portion of our total revenues and our net-centric revenues continuing to grow at a lower rate than our corporate revenues. Additionally, the impact of foreign exchange rates has a more significant impact on our net- centric revenues. Our on-net revenues increased 8.1% from 2017 to 2018. We increased the number of our on-net customer connections by 12.1% at December 31, 2018 from December 31, 2017. On-net customer connections increased at a greater rate than on-net revenues primarily due to the 5.1% decline in our on-net ARPU, primarily from a decline in ARPU for our net-centric customers. ARPU is determined by dividing revenue for the period by the average customer connections for that period. Our average price per megabit for our installed base of customers is determined by dividing the aggregate monthly recurring fixed charges for those customers by the aggregate committed data rate for the same customers. The decline in on-net ARPU is partly attributed to volume and term based pricing discounts. Additionally, on-net customers who cancel their service from our installed base of customers, in general, have an ARPU that is greater than the ARPU for our new customers due to declining prices primarily for our on-net services sold to our net-centric customers. These trends resulted in the reduction to our on-net ARPU and a 25.9% decline in our average price per megabit for our installed base of customers. Our off-net revenues increased 5.2% from 2017 to 2018. Our off-net revenues increased as we increased the number of our off-net customer connections by 10.3% at December 31, 2018 from December 31, 2017. Our off-net customer connections increased at a greater rate than our off-net revenue primarily due to the 6.8% decrease in our off-net ARPU. Network Operations Expenses. Network operations expenses include the costs of personnel associated with service delivery, network management, and customer support, network facilities costs, fiber and equipment maintenance fees, leased circuit costs, access and facilities fees paid to building owners and excise taxes billed to our customers and recorded on a gross basis. Non-cash equity-based compensation expense is included in network operations expenses consistent with the classification of the employee's salary and other compensation. Our network operations expenses, including non-cash equity-based compensation expense, increased 4.9% from 2017 to 2018 as we were connected to 11.9% more customer connections and we were connected to 170 more on-net buildings as of December 31, 2018 compared to December 31, 2017. The increase in network operations expense is primarily attributable to an increase in costs related to our network and facilities expansion activities and the increase in our off- net revenues. When we provide off-net services we also assume the cost of the associated tail circuits. Selling, General, and Administrative Expenses (“SG&A”). Our SG&A expenses, including non-cash equity- based compensation expense, increased 4.6% from 2017 to 2018. Non cash equity-based compensation expense is included in SG&A expenses consistent with the classification of the employee's salary and other compensation and was $16.8 million for 2018 and $12.7 million for 2017. SG&A expenses increased primarily from an increase in salaries and related costs required to support our expansion and increases in our sales efforts and an increase in our headcount partly offset by a $1.1 million decrease in our legal fees primarily associated with U.S. net neutrality and interconnection regulatory matters and by the $1.3 million reduction in commission expense from the impact of the new revenue accounting standard which requires us to capitalize certain commissions paid to our sales agents and sales employees. Our sales force headcount increased by 7.8% from 574 at December 31, 2017 to 619 at December 31, 2018 and our total headcount increased by 4.8% from 929 at December 31, 2017 to 974 at December 31, 2018. Depreciation and Amortization Expenses. Our depreciation and amortization expenses increased 7.0% from 2017 to 2018. The increase is primarily due to the depreciation expense associated with the increase related to newly deployed fixed assets more than offsetting the decline in depreciation expense from fully depreciated fixed assets. Gains on Equipment Transactions. We exchanged certain used network equipment and cash consideration for new network equipment resulting in gains of $1.0 million for 2018 and $3.9 million for 2017. The gains are based upon the excess of the estimated fair value of the new network equipment over the carrying amount of the returned used network equipment and the cash paid. The reduction in gains from 2017 to 2018 was due to purchasing more equipment under the exchange program in 2017 than we purchased in 2018. Interest Expense. Interest expense results from interest incurred on our $445.0 million of senior secured notes, interest incurred on our $189.2 million of senior unsecured notes, interest on our installment payment agreement and interest on our finance lease obligations. Our interest expense increased by 5.3% for 2018 from 2017 primarily due to the issuance of $70.0 million of senior secured notes in August 2018 and an increase in our finance lease obligations. Income Tax Expense. Our income tax expense was $12.7 million for 2018 and $25.2 million for 2017. The decrease in our income tax expense was primarily related to an increase in deferred income tax expense for 2017 primarily due to the impact of the Tax Cuts and Jobs Act (the "Act"). On December 22, 2017, the President of the United States signed into law the Act. The Act amended the Internal Revenue Code and reduced the corporate tax rate from a maximum rate of 35% to a flat 21% rate. The rate reduction was effective on January 1, 2018 and may reduce our future income taxes payable once we become a cash taxpayer in the United States. As a result of the reduction in the corporate income tax rate and other provisions under the Act, we were required to revalue our net deferred tax asset at December 31, 2017 resulting in a reduction in our net deferred tax asset of $9.0 million and we also recorded a transition tax of $2.3 million related to our foreign operations for a total income tax expense of approximately $11.3 million, which was recorded as additional noncash income tax expense in 2017. Buildings On-net. As of December 31, 2018 and 2017 we had a total of 2,676 and 2,506 on-net buildings connected to our network, respectively. <table> <tbody> <tr><td></td><td>Year Ended December 31,</td><td></td><td>Change</td></tr> <tr><td></td><td>2018</td><td>2017</td><td>Percent</td></tr> <tr><td></td><td>(in thousands)</td><td></td><td></td></tr> <tr><td>Service revenue</td><td>$520,193</td><td>$485,175</td><td>7.2%</td></tr> <tr><td>On-net revenues</td><td>374,555</td><td>346,445</td><td>8.1%</td></tr> <tr><td>Off-net revenues</td><td>145,004</td><td>137,892</td><td>5.2%</td></tr> <tr><td>Network operations expenses(1)</td><td>219,526</td><td>209,278</td><td>4.9%</td></tr> <tr><td>Selling, general, and administrative expenses(2)</td><td>133,858</td><td>127,915</td><td>4.6%</td></tr> <tr><td>Depreciation and amortization expenses</td><td>81,233</td><td>75,926</td><td>7.0%</td></tr> <tr><td>Gains on equipment transactions</td><td>982</td><td>3,862</td><td>(74.6)%</td></tr> <tr><td>Interest expense</td><td>51,056</td><td>48,467</td><td>5.3%</td></tr> <tr><td>Income tax expense</td><td>12,715</td><td>25,242</td><td>(49.6)%</td></tr> </tbody> </table> |
What would be the change in Net cash provided by (used in) operating activities from continuing operations between 2018 and 2019 if the net cash provided in 2019 was $200,000 thousand instead? | [
"48573"
] | Share Repurchase On December 18, 2019, the Board of Directors authorized to remove the expiration date to the Company’s common stock share repurchase program and increase the authorized amount by $25.1 million increasing the authorization to repurchase shares up to a total of $50.0 million. As of December 31, 2019, a total of $50.0 million remained available for future share repurchases. We repurchased 1.7 million shares for $95.1 million and 0.4 million shares for $30.0 million in fiscal 2018 and 2017, respectively. There were no shares repurchased in fiscal 2019. CASH FLOWS A summary of our cash provided by and used in operating, investing, and financing activities is as follows (in thousands): <table> <tbody> <tr><td></td><td>Years Ended December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Net cash provided by (used in) operating activities from continuing operations</td><td>$47,899</td><td>$151,427</td></tr> <tr><td>Net cash provided by (used in) operating activities from discontinued operations</td><td>493</td><td>(156)</td></tr> <tr><td>Net cash provided by (used in) operating activities</td><td>48,392</td><td>151,271</td></tr> <tr><td>Net cash provided by (used in) investing activities from continuing operations</td><td>(393,847)</td><td>(113,592)</td></tr> <tr><td>Net cash provided by (used in) financing activities from continuing operations</td><td>338,840</td><td>(97,134)</td></tr> <tr><td>EFFECT OF CURRENCY TRANSLATION ON CASH</td><td>(1,496)</td><td>(1,030)</td></tr> <tr><td>INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</td><td>(8,111)</td><td>(60,485)</td></tr> <tr><td>CASH AND CASH EQUIVALENTS, beginning of period</td><td>354,552</td><td>415,037</td></tr> <tr><td>CASH AND CASH EQUIVALENTS, end of period</td><td>346,441</td><td>354,552</td></tr> <tr><td>Less cash and cash equivalents from discontinued operations</td><td>—</td><td>5,251</td></tr> <tr><td>CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period</td><td>$346,441</td><td>$349,301</td></tr> </tbody> </table> |
What would be the change in Net cash provided by (used in) operating activities between 2018 and 2019 if the net cash provided in 2019 was $200,000 thousand instead? | [
"48729"
] | Share Repurchase On December 18, 2019, the Board of Directors authorized to remove the expiration date to the Company’s common stock share repurchase program and increase the authorized amount by $25.1 million increasing the authorization to repurchase shares up to a total of $50.0 million. As of December 31, 2019, a total of $50.0 million remained available for future share repurchases. We repurchased 1.7 million shares for $95.1 million and 0.4 million shares for $30.0 million in fiscal 2018 and 2017, respectively. There were no shares repurchased in fiscal 2019. CASH FLOWS A summary of our cash provided by and used in operating, investing, and financing activities is as follows (in thousands): <table> <tbody> <tr><td></td><td>Years Ended December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Net cash provided by (used in) operating activities from continuing operations</td><td>$47,899</td><td>$151,427</td></tr> <tr><td>Net cash provided by (used in) operating activities from discontinued operations</td><td>493</td><td>(156)</td></tr> <tr><td>Net cash provided by (used in) operating activities</td><td>48,392</td><td>151,271</td></tr> <tr><td>Net cash provided by (used in) investing activities from continuing operations</td><td>(393,847)</td><td>(113,592)</td></tr> <tr><td>Net cash provided by (used in) financing activities from continuing operations</td><td>338,840</td><td>(97,134)</td></tr> <tr><td>EFFECT OF CURRENCY TRANSLATION ON CASH</td><td>(1,496)</td><td>(1,030)</td></tr> <tr><td>INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</td><td>(8,111)</td><td>(60,485)</td></tr> <tr><td>CASH AND CASH EQUIVALENTS, beginning of period</td><td>354,552</td><td>415,037</td></tr> <tr><td>CASH AND CASH EQUIVALENTS, end of period</td><td>346,441</td><td>354,552</td></tr> <tr><td>Less cash and cash equivalents from discontinued operations</td><td>—</td><td>5,251</td></tr> <tr><td>CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period</td><td>$346,441</td><td>$349,301</td></tr> </tbody> </table> |
What would be the percentage change in cash and cash equivalents from continuing operations at the end of the period between 2018 and 2019 if the cash and cash equivalents in 2019 was $500,000 thousand instead? | [
"43.14"
] | Share Repurchase On December 18, 2019, the Board of Directors authorized to remove the expiration date to the Company’s common stock share repurchase program and increase the authorized amount by $25.1 million increasing the authorization to repurchase shares up to a total of $50.0 million. As of December 31, 2019, a total of $50.0 million remained available for future share repurchases. We repurchased 1.7 million shares for $95.1 million and 0.4 million shares for $30.0 million in fiscal 2018 and 2017, respectively. There were no shares repurchased in fiscal 2019. CASH FLOWS A summary of our cash provided by and used in operating, investing, and financing activities is as follows (in thousands): <table> <tbody> <tr><td></td><td>Years Ended December 31,</td><td></td></tr> <tr><td></td><td>2019</td><td>2018</td></tr> <tr><td>Net cash provided by (used in) operating activities from continuing operations</td><td>$47,899</td><td>$151,427</td></tr> <tr><td>Net cash provided by (used in) operating activities from discontinued operations</td><td>493</td><td>(156)</td></tr> <tr><td>Net cash provided by (used in) operating activities</td><td>48,392</td><td>151,271</td></tr> <tr><td>Net cash provided by (used in) investing activities from continuing operations</td><td>(393,847)</td><td>(113,592)</td></tr> <tr><td>Net cash provided by (used in) financing activities from continuing operations</td><td>338,840</td><td>(97,134)</td></tr> <tr><td>EFFECT OF CURRENCY TRANSLATION ON CASH</td><td>(1,496)</td><td>(1,030)</td></tr> <tr><td>INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</td><td>(8,111)</td><td>(60,485)</td></tr> <tr><td>CASH AND CASH EQUIVALENTS, beginning of period</td><td>354,552</td><td>415,037</td></tr> <tr><td>CASH AND CASH EQUIVALENTS, end of period</td><td>346,441</td><td>354,552</td></tr> <tr><td>Less cash and cash equivalents from discontinued operations</td><td>—</td><td>5,251</td></tr> <tr><td>CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATIONS, end of period</td><td>$346,441</td><td>$349,301</td></tr> </tbody> </table> |
If the Service cost increase to 34,710 in 2018, what is the revised average? | [
"27876.5"
] | The employee pension plan mandated by the Labor Standards Act of the R.O.C. is a defined benefit plan. The pension benefits are disbursed based on the units of service years and average monthly salary prior to retirement according to the Labor Standards Act. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15th year and the total units will not exceed 45 units. The Company contributes an amount equivalent to 2% of the employees’ total salaries and wages on a monthly basis to the pension fund deposited with the Bank of Taiwan under the name of a pension fund supervisory committee. The pension fund is managed by the government’s designated authorities and therefore is not included in the Company’s consolidated financial statements. For the years ended December 31, 2017, 2018 and 2019, total pension expenses of NT$80 million, NT$69 million and NT$59 million, respectively, were recognized by the Company. Movements in present value of defined benefit obligation during the year: <table> <tbody> <tr><td></td><td>For the years ended December 31,</td><td></td></tr> <tr><td></td><td>2018</td><td>2019</td></tr> <tr><td></td><td>$NT (In Thousands)</td><td>$NT (In Thousands)</td></tr> <tr><td>Defined benefit obligation at beginning of year</td><td>$(5,671,058)</td><td>$(5,620,509)</td></tr> <tr><td>Items recognized as profit or loss:</td><td></td><td></td></tr> <tr><td>Service cost</td><td>(24,477)</td><td>(21,043)</td></tr> <tr><td>Interest cost</td><td>(61,247)</td><td>(51,146)</td></tr> <tr><td>Subtotal</td><td>(85,724)</td><td>(72,189)</td></tr> <tr><td>Remeasurements recognized in other comprehensive income (loss):</td><td></td><td></td></tr> <tr><td>Arising from changes in financial assumptions</td><td>(91,350)</td><td>(114,976)</td></tr> <tr><td>Experience adjustments</td><td>(5,907)</td><td>180,095</td></tr> <tr><td>Subtotal</td><td>(97,257)</td><td>65,119</td></tr> <tr><td>Benefits paid</td><td>233,530</td><td>216,510</td></tr> </tbody> </table> |
If the Service cost increase to 65,292 in 2018, what is the revised average? | [
"58219"
] | The employee pension plan mandated by the Labor Standards Act of the R.O.C. is a defined benefit plan. The pension benefits are disbursed based on the units of service years and average monthly salary prior to retirement according to the Labor Standards Act. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15th year and the total units will not exceed 45 units. The Company contributes an amount equivalent to 2% of the employees’ total salaries and wages on a monthly basis to the pension fund deposited with the Bank of Taiwan under the name of a pension fund supervisory committee. The pension fund is managed by the government’s designated authorities and therefore is not included in the Company’s consolidated financial statements. For the years ended December 31, 2017, 2018 and 2019, total pension expenses of NT$80 million, NT$69 million and NT$59 million, respectively, were recognized by the Company. Movements in present value of defined benefit obligation during the year: <table> <tbody> <tr><td></td><td>For the years ended December 31,</td><td></td></tr> <tr><td></td><td>2018</td><td>2019</td></tr> <tr><td></td><td>$NT (In Thousands)</td><td>$NT (In Thousands)</td></tr> <tr><td>Defined benefit obligation at beginning of year</td><td>$(5,671,058)</td><td>$(5,620,509)</td></tr> <tr><td>Items recognized as profit or loss:</td><td></td><td></td></tr> <tr><td>Service cost</td><td>(24,477)</td><td>(21,043)</td></tr> <tr><td>Interest cost</td><td>(61,247)</td><td>(51,146)</td></tr> <tr><td>Subtotal</td><td>(85,724)</td><td>(72,189)</td></tr> <tr><td>Remeasurements recognized in other comprehensive income (loss):</td><td></td><td></td></tr> <tr><td>Arising from changes in financial assumptions</td><td>(91,350)</td><td>(114,976)</td></tr> <tr><td>Experience adjustments</td><td>(5,907)</td><td>180,095</td></tr> <tr><td>Subtotal</td><td>(97,257)</td><td>65,119</td></tr> <tr><td>Benefits paid</td><td>233,530</td><td>216,510</td></tr> </tbody> </table> |
What would be the increase/ (decrease) in Benefits paid if the value in 2018 is reduced to 222,127 thousand? | [
"-11403"
] | The employee pension plan mandated by the Labor Standards Act of the R.O.C. is a defined benefit plan. The pension benefits are disbursed based on the units of service years and average monthly salary prior to retirement according to the Labor Standards Act. Two units per year are awarded for the first 15 years of services while one unit per year is awarded after the completion of the 15th year and the total units will not exceed 45 units. The Company contributes an amount equivalent to 2% of the employees’ total salaries and wages on a monthly basis to the pension fund deposited with the Bank of Taiwan under the name of a pension fund supervisory committee. The pension fund is managed by the government’s designated authorities and therefore is not included in the Company’s consolidated financial statements. For the years ended December 31, 2017, 2018 and 2019, total pension expenses of NT$80 million, NT$69 million and NT$59 million, respectively, were recognized by the Company. Movements in present value of defined benefit obligation during the year: <table> <tbody> <tr><td></td><td>For the years ended December 31,</td><td></td></tr> <tr><td></td><td>2018</td><td>2019</td></tr> <tr><td></td><td>$NT (In Thousands)</td><td>$NT (In Thousands)</td></tr> <tr><td>Defined benefit obligation at beginning of year</td><td>$(5,671,058)</td><td>$(5,620,509)</td></tr> <tr><td>Items recognized as profit or loss:</td><td></td><td></td></tr> <tr><td>Service cost</td><td>(24,477)</td><td>(21,043)</td></tr> <tr><td>Interest cost</td><td>(61,247)</td><td>(51,146)</td></tr> <tr><td>Subtotal</td><td>(85,724)</td><td>(72,189)</td></tr> <tr><td>Remeasurements recognized in other comprehensive income (loss):</td><td></td><td></td></tr> <tr><td>Arising from changes in financial assumptions</td><td>(91,350)</td><td>(114,976)</td></tr> <tr><td>Experience adjustments</td><td>(5,907)</td><td>180,095</td></tr> <tr><td>Subtotal</td><td>(97,257)</td><td>65,119</td></tr> <tr><td>Benefits paid</td><td>233,530</td><td>216,510</td></tr> </tbody> </table> |
What would be the change in working capital between 2018 and 2019 if working capital in 2019 was $400,000 thousand instead? | [
"130143"
] | ITEM 6. SELECTED FINANCIAL DATA The following selected financial data has been derived from our consolidated financial statements (in thousands, except per share data). This data should be read together with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, and the consolidated financial statements and related notes included elsewhere in this annual report. The financial information below is not necessarily indicative of the results of future operations. Future results could differ materially from historical results due to many factors, including those discussed in Item 1A, Risk Factors. (1) The consolidated balance sheet and statement of operations for the year ended December 31, 2019, includes the acquisition of Speedpay as discussed in Note 3, Acquisition, to our Notes to Consolidated Financial Statements in Part IV, Item 15 of this Form 10-K. (2) The consolidated balance sheet and statement of operations for the year ended December 31, 2019, reflects the application of Accounting Standards Update (“ASU”) 2016-02, Leases (codified as “ASC 842”) as discussed in Note 14, Leases, to our Notes to Consolidated Financial Statements. (3) The consolidated balance sheet and statement of operations for the year ended December 31, 2018, reflects the adoption of ASU 2014-09, Revenue from Contracts with Customers (codified as “ASC 606”), as discussed in Note 2, Revenue, to our Notes to Consolidated Financial Statements, including a cumulative adjustment of $244.0 million to retained earnings. (4) The consolidated statement of operations for the year ended December 31, 2017, reflects the Baldwin Hackett & Meeks, Inc. (“BHMI”) judgment. We recorded $46.7 million in general and administrative expense and $1.4 million in interest expense, as discussed in Note 15, Commitments and Contingencies, to our Notes to Consolidated Financial Statements. (5) The consolidated balance sheet and statement of operations for the year ended December 31, 2016, reflects the sale of Community Financial Services assets and liabilities. (6) During the year ended December 31, 2019, we borrowed $500.0 million in the form of a new senior secured term loan and drew $250.0 million on the available Revolving Credit Facility to fund the acquisition of Speedpay. During the year ended December 31, 2018, we issued $400.0 million in senior notes due August 15, 2026. We used the net proceeds of these senior notes to redeem our outstanding $300.0 million senior notes due 2020, which we originally entered in to during the year ended December 31, 2013. See Note 5, Debt, to our Notes to Consolidated Financial Statements for additional information. <table> <tbody> <tr><td></td><td></td><td></td><td>December 31,</td><td></td><td></td></tr> <tr><td></td><td>2019 (1)(2)</td><td>2018 (3)</td><td>2017</td><td>2016 (5)</td><td>2015</td></tr> <tr><td>Balance Sheet Data:</td><td></td><td></td><td></td><td></td><td></td></tr> <tr><td>Working capital</td><td>$308,426</td><td>$269,857</td><td>$100,039</td><td>$31,625</td><td>$(2,360)</td></tr> <tr><td>Total assets</td><td>3,257,534</td><td>2,122,455</td><td>1,861,639</td><td>1,902,295</td><td>1,975,788</td></tr> <tr><td>Current portion of debt (6)</td><td>34,148</td><td>20,767</td><td>17,786</td><td>90,323</td><td>89,710</td></tr> <tr><td>Debt (long-term portion) (6)</td><td>1,350,592</td><td>658,602</td><td>668,356</td><td>656,063</td><td>845,639</td></tr> <tr><td>Stockholders’ equity</td><td>1,129,968</td><td>1,048,231</td><td>764,597</td><td>754,917</td><td>654,400</td></tr> </tbody> </table> |
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AveniBench: TAT-HQA
TAT-HQA split used in the AveniBench.
License
This dataset is made available under the Apache 2.0 license.
Citation
AveniBench
TDB
TAT-HQA
@inproceedings{li-etal-2022-learning,
title = "Learning to Imagine: Integrating Counterfactual Thinking in Neural Discrete Reasoning",
author = "Li, Moxin and
Feng, Fuli and
Zhang, Hanwang and
He, Xiangnan and
Zhu, Fengbin and
Chua, Tat-Seng",
booktitle = "Proceedings of the 60th Annual Meeting of the Association for Computational Linguistics (Volume 1: Long Papers)",
month = may,
year = "2022",
address = "Dublin, Ireland",
publisher = "Association for Computational Linguistics",
url = "https://aclanthology.org/2022.acl-long.5/",
doi = "10.18653/v1/2022.acl-long.5",
pages = "57--69",
}
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