Question: What was the percentage change in cost of revenue from 2017 to 2019 if the cost of revenue is 742,365 in 2019? (in percent)

def solution():
    # Define variables name and value
    cost_of_revenue_2019 = 742365
    cost_of_revenue_2017 = 731453

    # Do math calculation to get the answer
    answer = (cost_of_revenue_2019 - cost_of_revenue_2017) / cost_of_revenue_2017 * 100

    return answer

||||Year Ended December 31|||
||2019|% Change|2018|% Change|2017|
||||(In thousands, except percentage data)|||
|Cost of revenue|$704,535|(1.8)%|$717,118|(2.0)%|$731,453|
|Gross margin percentage|29.5%||32.3%||29.6%|
 2019 vs 2018 Cost of revenue decreased for the year ended December 31, 2019, compared to the prior year, primarily due to net revenue declining. Gross margin decreased for the year ended December 31, 2019 compared to the prior year. Gross margin was negatively impacted by the imposition of Section 301 tariffs originally announced in late 2018 and cost inefficiencies experienced in our new manufacturing locations outside of China, an increase in channel promotional activities relative to revenue as well as foreign exchange headwinds due to the strengthening of the U.S. dollar. 2018 vs 2017 Cost of revenue decreased for the year ended December 31, 2018 primarily due to improved product margin performance, lower proportionate provisions for warranty expense, and lower air freight costs compared to the prior year. Gross margin increased for the year ended December 31, 2018 compared to the prior year primarily due to improved product margin performance, lower proportionate provisions for sales returns and warranty expense, favorable foreign exchange rate movements and lower air freight costs compared to the prior year. For fiscal 2020, we expect gross margins to improve from fiscal 2019 primarily as our U.S. bound inventory will primarily not be subject to Section 301 tariffs in fiscal 2020. Forecasting gross margin percentages is difficult, and there are a number of risks related to our ability to maintain or improve our current gross margin levels. Our cost of revenue as a percentage of net revenue can vary significantly based upon factors such as: uncertainties surrounding revenue levels, including future pricing and/or potential discounts as a result of the economy or in response to the strengthening of the U.S. dollar in our international markets, and related production level variances; import customs duties and imposed tariffs; competition; changes in technology; changes in product mix; variability of stockbased compensation costs; royalties to third parties; fluctuations in freight and repair costs; manufacturing and purchase price variances; changes in prices on commodity components; warranty costs; and the timing of sales, particularly to service provider customers. We expect that revenue derived from paid subscription service plans will increase in the future, which may have a positive impact on our gross margin. From time to time, however, we may experience fluctuations in our gross margin as a result of the factors discussed above.

Answer: 1.4918251753701195


Question: What would be the average revenue for 2017 and 2018 if 2017 revenue was 47,000 €m? (in million)

def solution():
    # Define variables name and value
    revenue_2017 = 47000
    revenue_2018 = 46571

    # Do math calculation to get the answer
    answer = (revenue_2017 + revenue_2018) / 2

    return answer

|At/for the year ended 31 March|2019|2018|2017|2016|2015|
|Consolidated income statement data (€m)||||||
|Revenue|43,666|46,571|47,631|49,810|48,385|
|Operating (loss)/profit|(951)|4,299|3,725|1,320|2,073|
|(Loss)/profit before taxation|(2,613)|3,878|2,792|(190)|1,734|
|(Loss)/profit for financial year from continuing operations|(4,109)|4,757|(1,972)|(5,127)|7,805|
|(Loss)/profit for the financial year|(7,644)|2,788|(6,079)|(5,122)|7,477|
|Consolidated statement of financial position data (€m)||||||
|Total assets|142,862|145,611|154,684|169,107|169,579|
|Total equity|63,445|68,607|73,719|85,136|93,708|
|Total equity shareholders’ funds|62,218|67,640|72,200|83,325|91,510|
|Earnings per share1,2||||||
|Weighted average number of shares (millions)||||||
|– Basic|27,607|27,770|27,971|26,692|26,489|
|– Diluted|27,607|27,857|27,971|26,692|26,629|
|Basic (loss)/earnings per ordinary share|(29.05)c|8.78c|(22.51)c|(20.25)c|27.48c|
|Diluted (loss)/earnings per ordinary share|(29.05)c|8.76c|(22.51)c|(20.25)c|27.33c|
|Basic (loss)/earnings per share from continuing operations|(16.25)c|15.87c|(7.83)c|(20.27)c|28.72c|
|Cash dividends1,3||||||
|Amount per ordinary share (eurocents)|9.00c|15.07c|14.77c|–|–|
|Amount per ADS (eurocents)|9.00c|15.07c|147.7c|–|–|
|Amount per ordinary share (pence)|–|–|–|11.45p|11.22p|
|Amount per ADS (pence)|–|–|–|114.5p|111.2p|
|Amount per ordinary share (US cents)|10.10c|17.93c|18.52c|16.49c|16.65c|
|Amount per ADS (US cents)|10.10c|179.3c|182.5c|164.9c|166.5c|
 Selected financial data Unaudited information The selected financial data shown below include the results of Vodafone India as discontinued operations in all years following the agreement to combine it with Idea Cellular. Notes: 1 See note 8 to the consolidated financial statements, “Earnings per share”. Earnings and dividends per ADS is calculated by multiplying earnings per ordinary share by ten, the number of ordinary shares per ADS. 2 On 19 February 2014, we announced a “6 for 11” share consolidation effective 24 February 2014. This had the effect of reducing the number of shares in issue from 52,821,751,216 ordinary shares (including 4,351,833,492 ordinary shares held in Treasury) as at the close of business on 18 February 2014 to 28,811,864,298 new ordinary shares in issue immediately after the share consolidation on 24 February 2014. 3 The final dividend for the year ended 31 March 2019 was proposed by the Directors on 14 May 2019 and is payable on 2 August 2019 to holders of record as of 7 June 2019. The total dividends have been translated into US dollars at 31 March 2019 for purposes of the above disclosure but the dividends are payable in US dollars under the terms of the ADS depositary agreement.

Answer: 46785.5


Question: If the Total interest expense for year 2019 was adjusted to be lowered by $0.5(in millions), What is the Total interest expense for years 2017-2019? (in million)

def solution():
    # Define variables name and value
    interest_expense_2019 = 184.1
    interest_expense_2018 = 177.9
    interest_expense_2017 = 184.2
    adjustment = 0.5

    # Do math calculation to get the answer
    answer = (interest_expense_2019 - adjustment) + interest_expense_2018 + interest_expense_2017

    return answer

|||Year Ended December 31,||2019 vs. 2018|2018 vs. 2017|
|(In millions)|2019|2018|2017|Change|Change|
|Interest expense on our various debt instruments:||||||
|Term Loan A due July 2017(1)|$ —|$ —|$ 3.6|$ —|$ (3.6)|
|Term Loan A due July 2022(2)|6.8|—|—|6.8|—|
|Term Loan A due July 2023(3)|8.5|8.9|18.6|(0.4)|(9.7)|
|Revolving credit facility due July 2023(3)|1.4|1.9|2.4|(0.5)|(0.5)|
|6.50% Senior Notes due December 2020(4)|25.4|28.1|28.1|(2.7)|—|
|4.875% Senior Notes due December 2022|21.5|21.5|21.5|—|—|
|5.25% Senior Notes due April 2023|23.1|23.1|23.0|—|0.1|
|4.50% Senior Notes due September 2023|20.7|21.8|21.0|(1.1)|0.8|
|5.125% Senior Notes due December 2024|22.4|22.4|22.3|—|0.1|
|5.50% Senior Notes due September 2025|22.4|22.4|22.3|—|0.1|
|4.00% Senior Notes due December 2027(4)|1.7|—|—|1.7|—|
|6.875% Senior Notes due July 2033|31.1|31.0|31.0|0.1|—|
|Other interest expense|19.4|18.2|18.3|1.2|(0.1)|
|Less: capitalized interest|(8.4)|(6.3)|(10.3)|(2.1)|4.0|
|Less: interest income|(11.9)|(15.1)|(17.6)|3.2|2.5|
|Total|$ 184.1|$ 177.9|$ 184.2|$ 6.2|$ (6.3)|
 Interest expense, net includes the stated interest rate on our outstanding debt, as well as the net impact of capitalized interest, interest income, the effects of terminated interest rate swaps and the amortization of capitalized senior debt issuance costs and credit facility fees, bond discounts, and terminated treasury locks. Interest expense, net for the years ended December 31, was as follows: (1) We repaid the notes upon maturity in July 2017. (2) On August 1, 2019, Sealed Air Corporation, on behalf of itself and certain of its subsidiaries, and Sealed Air Corporation (US) entered into an amendment to its existing senior secured credit facility with Bank of America, N.A., as agent, and the other financial institutions party thereto. The amendment provided for a new incremental term facility in an aggregate principal amount of up to $475 million, to be used, in part, to finance the acquisition of Automated. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details. (3) On July 12, 2018, the Company and certain of its subsidiaries entered into a third amended and restated credit agreement with respect to its existing senior secured credit facility. See Note 14, “Debt and Credit Facilities,” of the Notes to Consolidated Financial Statements for further details. (4) In November 2019, the Company issued $425 million of 4.00% Senior Notes due 2027 and used the proceeds to retire the existing $425 million of 6.50% Senior Notes due 2020. See Note 14, "Debt and Credit Facilities," of the Notes to Consolidated Financial Statements for further details.

Answer: 545.7


Question: If the building and improvements increases by 10% in 2019, what is the revised average? (in thousand)

def solution():
    # Define variables name and value
    buildings_and_improvements_2019 = 370451
    buildings_and_improvements_2018 = 360030
    increase_percentage = 0.1

    # Do math calculation to get the answer
    revised_building_and_improvements_2019 = buildings_and_improvements_2019 * (1 + increase_percentage)
    answer = (revised_building_and_improvements_2019 + buildings_and_improvements_2018) / 2

    return answer

||June 1, 2019|June 2, 2018|
|Land and improvements|$93,046|$90,757|
|Buildings and improvements|370,451|360,030|
|Machinery and equipment|496,166|478,997|
|Construction-in-progress|52,551|9,307|
||1,012,214|939,091|
|Less: accumulated depreciation|555,920|513,707|
||$456,294|$425,384|
 6. Property, Plant and Equipment Property, plant and equipment consisted of the following (in thousands): Depreciation expense was $51.7 million, $51.1 million and $48.8 million in fiscal years 2019, 2018 and 2017, respectively. The Company maintains insurance for both property damage and business interruption relating to catastrophic events, such as fires. Insurance recoveries received for property damage and business interruption in excess of the net book value of damaged assets, clean-up and demolition costs, and post-event costs are recognized as income in the period received or committed when all contingencies associated with the recoveries are resolved. Gains on insurance recoveries related to business interruption are recorded within “Cost of sales” and any gains or losses related to property damage are recorded within “Other income (expense).” Insurance recoveries related to business interruption are classified as operating cash flows and recoveries related to property damage are classified as investing cash flows in the statement of cash flows. Insurance claims incurred or finalized during the fiscal years ended 2019, 2018, and 2017 did not have a material affect on the Company's consolidated financial statements.

Answer: 383763.05000000005


Question: What would be the value of the 2019 total voyage revenue as a percentage of the 2018 total voyage revenues if the 2018 total voyage revenue is instead $300,000,000? (in percent)

def solution():
    # Define variables name and value
    voyage_revenue_2019 = 317220
    adjusted_voyage_revenue_2018 = 300000

    # Do math calculation to get the answer
    answer = (voyage_revenue_2019 / adjusted_voyage_revenue_2018) * 100

    return answer

|All amounts in USD ‘000 |2019|2018|2017|
|Spot charter revenues*|283,007|259,978|257,495|
|Time charter revenues  |34,213|29,038|39,646|
|Total Voyage Revenues  |317,220|289,016|297,141|
 3. VOYAGE REVENUES Our voyage revenues consist of time charter revenues and spot charter revenues with the following split: *Spot charter revenues for 2019 and 2018 are presented in accordance we ASC 606 Revenue from Contracts with Customers. The comparative information for 2017 has not been restated.

Answer: 105.74


Question: If the Furniture and equipment in December 31, 2019 increased to 1,914 thousand, what would be the revised change? (in thousand)

def solution():
    # Define variables name and value
    furniture_equipment_2019 = 1914
    furniture_equipment_2018 = 1189

    # Do math calculation to get the answer
    answer = furniture_equipment_2019 - furniture_equipment_2018

    return answer

|||As of December 31,||
||Useful life in years|2019|2018|
|Furniture and equipment|5|$1,785|$1,189|
|Leasehold improvements (1)|5|4,074|2,776|
|System hardware|5|1,596|1,404|
|Office computers|3|5,309|3,745|
|Computer and system software|3|1,451|1,385|
|||14,215|10,499|
|Less accumulated depreciation and amortization||(7,931)|(5,849)|
|Property and equipment, net||$6,284|$4,650|
 Property and equipment consist of the following (in thousands): (1) Lesser of the lease term or the estimated useful lives of the improvements, which generally may be up to 5 years. Depreciation and amortization expense for the years ended December 31, 2019, 2018 and 2017 was $2.2 million, $1.8 million and $1.9 million, respectively.

Answer: 725.0


Question: What would be the total senior notes as a percentage of total contractual obligations if total contractual obligations were $50,000 million instead, while total senior notes remained unchanged? (in percent)

def solution():
    # Define variables name and value
    senior_notes = 20500
    total_contractual_obligations = 50000

    # Do math calculation to get the answer
    answer = (senior_notes / total_contractual_obligations) * 100

    return answer

||||PAYMENTS DUE BY PERIOD|||
|July 27, 2019|Total|Less than 1 Year|1 to 3 Years|3 to 5 Years|More than 5 Years|
|Operating leases|$1,179|$441|$494|$190|$54|
|Purchase commitments with contract manufacturers and suppliers|4,967|4,239|728|—|—|
|Other purchase obligations|1,490|676|622|98|94|
|Senior notes|20,500|6,000|5,500|2,250|6,750|
|Transition tax payable|8,343|749|1,498|2,113|3,983|
|Other long-term liabilities .|1,214|—|220|136|858|
|Total by period|$37,693|$12,105|$9,062|$4,787|$11,739|
|Other long-term liabilities (uncertainty in the timing of future payments)|1,428|||||
|Total|$39,121|||||
 Contractual Obligations The impact of contractual obligations on our liquidity and capital resources in future periods should be analyzed in conjunction with the factors that impact our cash flows from operations discussed previously. In addition, we plan for and measure our liquidity and capital resources through an annual budgeting process. The following table summarizes our contractual obligations at July 27, 2019 (in millions): Operating Leases For more information on our operating leases, see Note 13 to the Consolidated Financial Statements Purchase Commitments with Contract Manufacturers and Suppliers We purchase components from a variety of suppliers and use several contract manufacturers to provide manufacturing services for our products. Our purchase commitments are for shortterm product manufacturing requirements as well as for commitments to suppliers to secure manufacturing capacity. Certain of our purchase commitments with contract manufacturers and suppliers relate to arrangements to secure long-term pricing for certain product components for multi-year periods. A significant portion of our reported estimated purchase commitments arising from these agreements are firm, noncancelable, and unconditional commitments. We record a liability for firm, noncancelable, and unconditional purchase commitments for quantities in excess of our future demand forecasts consistent with the valuation of our excess and obsolete inventory. See further discussion in “Inventory Supply Chain.” As of July 27, 2019, the liability for these purchase commitments was $129 million and is recorded in other current liabilities and is not included in the preceding table. Other Purchase Obligations Other purchase obligations represent an estimate of all contractual obligations in the ordinary course of business, other than operating leases and commitments with contract manufacturers and suppliers, for which we have not received the goods or services. Purchase orders are not included in the preceding table as they typically represent our authorization to purchase rather than binding contractual purchase obligations. Long-Term Debt The amount of long-term debt in the preceding table represents the principal amount of the respective debt instruments. See Note 11 to the Consolidated Financial Statements. Transition Tax Payable Transition tax payable represents future cash tax payments associated with the one-time U.S. transition tax on accumulated earnings of foreign subsidiaries as a result of the Tax Act. See Note 17 to the Consolidated Financial Statements. Other Long-Term Liabilities Other long-term liabilities primarily include noncurrent income taxes payable, accrued liabilities for deferred compensation, deferred tax liabilities, and certain other long-term liabilities. Due to the uncertainty in the timing of future payments, our noncurrent income taxes payable of approximately $1.3 billion and deferred tax liabilities of $95 million were presented as one aggregated amount in the total column on a separate line in the preceding table. Noncurrent income taxes payable include uncertain tax positions. See Note 17 to the Consolidated Financial Statements.

Answer: 41.0


Question: If the Sales Mix of Hardware in 2019 increased to 65,674 thousand, what would be the revised average for 2018 and 2019? (in thousand)

def solution():
    # Define variables name and value
    hardware_sales_2019 = 65674
    hardware_sales_2018 = 29496

    # Do math calculation to get the answer
    answer = (hardware_sales_2019 + hardware_sales_2018) / 2

    return answer

||APAC|||
|Sales Mix|2019|2018|%Change|
|Hardware|$34,965|$29,496|19%|
|Software|92,988|107,363|(13%)|
|Services|52,288|50,055|4%|
||$180,241|$186,914|(4%)|
 Our net sales by offering category for APAC for 2019 and 2018, were as follows (dollars in thousands): Net sales in APAC decreased 4% (increased 2% excluding the effects of fluctuating foreign currency rates), or $6.7 million, in 2019 compared to 2018. In APAC, increases in hardware and services net sales year over year were offset by a decrease in software net sales during 2019 compared to 2018. The changes were the result of the following: • Continued expansion of hardware offerings in the APAC market resulted in higher net sales in this category. • Continued trend toward higher sales of cloud solution offerings that are recorded on a net sales recognition basis in the services net sales category resulted in declines in the software net sales category. • Higher volume of net sales of cloud solution offerings and software referral fees that are recorded on a net sales recognition basis positively impacted services net sales. Additionally, there were contributions from Insight delivered services from increased net sales of our digital innovation solutions offering.

Answer: 47585.0


Question: What would the percentage change in U.S. Income before income taxes in 2019 from 2018 if the amount in 2019 was $193,000 thousand instead? (in percent)

def solution():
    # Define variables name and value
    income_2019 = 193000
    income_2018 = 189691

    # Do math calculation to get the answer
    answer = ((income_2019 - income_2018) / income_2018) * 100

    return answer

||2019|2018|2017|
|||(in thousands)||
|Income before income taxes||||
|U.S|$192,442|$189,691|$76,699|
|Non-U.S|333,330|278,110|447,713|
||$525,772|$467,801|$524,412|
|Provision (benefit) for income taxes||||
|Current:||||
|U.S. Federal|$19,297|$(59,122)|$162,679|
|Non-U.S|52,810|45,083|64,313|
|State|(4,347)|1,721|2,623|
||67,760|(12,318)|229,615|
|Deferred:||||
|U.S. Federal|(4,522)|29,252|43,687|
|Non-U.S|(8,007)|(1,243)|(6,476)|
|State|3,073|331|(106)|
||(9,456)|28,340|37,105|
|Total provision for income taxes|$58,304|$16,022|$266,720|
 S. INCOME TAXES The components of income (loss) before income taxes and the provision (benefit) for income taxes as shown in the consolidated statements of operations were as follows: Income tax expense for 2019, 2018 and 2017 totaled $58.3 million, $16.0 million and $266.7 million, respectively. The effective tax rate for 2019, 2018 and 2017 was 11.1%, 3.4% and 50.9%, respectively. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”), making significant changes to the Internal Revenue Code. The Tax Reform Act has significant direct and indirect implications for accounting for income taxes under ASC 740, “Accounting for Income Taxes” some of which could not be calculated with precision until further clarification and guidance was made available from tax authorities, regulatory bodies or the FASB. In light of this uncertainty, on December 22, 2017 the SEC issued Staff Accounting Bulletin (“SAB”) No. 118, “Income Tax Accounting Implications of the Tax Cuts and Jobs Act,” to address uncertainty in the application of U.S. GAAP when the registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Reform Act. In accordance with SAB 118, Teradyne recorded $186.0 million of additional income tax expense in the fourth quarter of 2017 which represented Teradyne’s best estimate of the impact of the Tax Reform Act in accordance with Teradyne’s understanding of the Tax Reform Act and available guidance as of that date. The $186.0 million was primarily composed of expense of $161.0 million related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings, $33.6 million of expense related to the remeasurement of certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, and a benefit of $10.3 million associated with the impact of correlative adjustments on uncertain tax positions. In accordance with the requirements of SAB 118, in the fourth quarter of 2018, Teradyne completed its analysis of the effect of the Tax Reform Act based on the application of the most recently available guidance as of December 31, 2018 and recorded $49.5 million of net income tax benefit. The net benefit consisted of $51.7 million of benefit resulting from a reduction in the estimate of the one-time transition tax on the mandatory deemed repatriation of foreign earnings and an expense of $2.2 million associated with the impact of correlative adjustments on uncertain tax positions.

Answer: 1.7444159185201196


Question: How many unexercised options would Garo H. Armen have as at December 31, 2019 after exercising 20% of the options expiring on April 15, 2026?

def solution():
    # Define variables name and value
    initial_options = 500000
    exercise_percentage = 0.2
    remaining_options = 184028

    # Do math calculation to get the answer
    answer = initial_options * (1 - exercise_percentage) + remaining_options

    return answer

|Name|No. of Securities Underlying Unexercised Options (#) Exercisable No. of Securities Underlying Unexercised|No. of Securities Underlying Unexercised Options (#) Unexercisable No. of Securities Underlying Unexercised|Option Exercise Price|Option Expiration Date|
|Garo H. Armen (1)|500,000|-|$1.25|April 16, 2026|
|Garo H. Armen (2)|184,028|65,972|$1.75|October 16, 2027|
|Alexander K. Arrow (3)|100,000|-|$1.25|February 12, 2026|
|Alexander K. Arrow (3)|140,000|-|$1.25|April 15, 2026|
|Alexander K. Arrow (4)|55,208|19,792|$1.75|October 16, 2027|
|Alexander K. Arrow (5)|41,667|-|$1.00|February 1, 2029|
 Outstanding Equity Awards at Fiscal Year End The following table summarizes the equity awards made to our named executive officers that were outstanding at December 31, 2019

Answer: 584028.0


Question: If the total purchase price for Blue Coat is $5,000 million, What would be the Goodwill for Blue Coat expressed as a percentage of Total purchase price? (in percent)

def solution():
    # Define variables name and value
    goodwill_blue_coat = 4084
    total_purchase_price_blue_coat = 5000

    # Do math calculation to get the answer
    answer = (goodwill_blue_coat / total_purchase_price_blue_coat) * 100

    return answer

|(In millions)|Blue Coat|LifeLock|Total|
|Goodwill|$4,084|$1,397|$5,481|
|Intangible assets|1,608|1,247|2,855|
|Net liabilities assumed|(1,019)|(361)|(1,380)|
|Total purchase price|$4,673|$2,283|$6,956|
 Fiscal 2017 acquisitions On August 1, 2016, we acquired all of the outstanding common stock of Blue Coat, Inc. (Blue Coat), a provider of advanced web security solutions for global enterprises and governments. The addition of Blue Coat’s suite of network and cloud security products to our innovative Enterprise Security product portfolio has enhanced our threat protection and information protection products while providing us with complementary products, such as advanced web and cloud security solutions, that address the network and cloud security needs of enterprises. On February 9, 2017, we completed the acquisition of LifeLock, Inc. (LifeLock) a provider of proactive identity theft protection services for consumers and consumer risk management services for enterprises. LifeLock’s services are provided on a monthly or annual subscription basis and provide identification and notification of identity-related and other events and assist users in remediating their impact. The total consideration for the acquisitions, net of cash acquired, consisted of the following:

Answer: 81.67999999999999


Question: What would the percentage change in total goodwill in 2019 from 2018 be if the amount in 2019 was 420.0 million instead? (in percent)

def solution():
    # Define variables name and value
    goodwill_2019 = 420.0
    goodwill_2018 = 368.0

    # Do math calculation to get the answer
    answer = (goodwill_2019 - goodwill_2018) / goodwill_2018 * 100

    return answer

||2019 Goodwill|2018 Goodwill|
||£m|£m|
|Steam Specialties|113.0|119.3|
|Electric Thermal Solutions|244.7|183.0|
|Watson-Marlow|60.0|65.7|
|Total goodwill|417.7|368.0|
 15 Goodwill and other intangible assets continued Impairment In accordance with the requirements of IAS 36 (Impairment of Assets), goodwill is allocated to the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the business combination that gave rise to the goodwill. During 2019, we performed a review on the basis of identification of our individual CGUs. As a result of this review, we have consolidated a number of our current individual CGUs into groups of CGUs that represent the lowest level to which goodwill is monitored for internal management purposes, being each operating segment as disclosed in Note 3. As a result, we performed an impairment review at an operating segment CGU level, the breakdown of the goodwill value at 31st December across these is shown below: In order to complete the transition to performing goodwill impairment reviews at an operating segment level, we also performed a goodwill impairment review as at 31st December 2019 under the historical CGU basis. The result of this impairment review led to an impairment of £4.2m being recognised in respect of Watson-Marlow FlowSmart. No other impairment was recognised. The goodwill balance has been tested for annual impairment on the following basis: • the carrying values of goodwill have been assessed by reference to value in use. These have been estimated using cash flows based on forecast information for the next financial year which have been approved by the Board and then extended up to a further 9 years based on the most recent forecasts prepared by management; • pre-tax discount rates range from 11-12% (2018: 10-15%); • short to medium-term growth rates vary between 3-8% depending on detailed forecasts (2018: 2-8%). The range in rates excludes the annualised impact of owning Thermocoax for a first full year in 2020. The short to medium-term is defined as not more than 10 years; and • long-term growth rates are set using IMF forecasts and vary between 1.8-2.5% (2018: 0.8-3.0%).

Answer: 14.130434782608695


Question: What would the percentage change in Interest expense in 2019 from 2018 be if the amount in 2019 was $3,417 thousand instead? (in percent)

def solution():
    # Define variables name and value
    interest_expense_2019 = 3417
    interest_expense_2018 = 3817

    # Do math calculation to get the answer
    answer = (interest_expense_2019 - interest_expense_2018) / interest_expense_2018 * 100

    return answer

|||Years Ended December 31,||
||2019|2018|2017|
|Average daily utilization|$87,800|$106,189|$268,775|
|Interest expense (1)|$3,465|$3,817|$6,668|
|Weighted average interest rate (1)|3.9%|3.6%|2.5%|
 The following table presents information related to our credit agreements (dollars in thousands): (1) Excludes the amortization of deferred loan fees and includes the commitment fee. In January 2018, the Company repaid $175.0 million of long-term debt outstanding under its 2015 Credit Agreement, primarily using funds repatriated from its foreign subsidiaries.

Answer: -10.47943411055803


Question: What would the average revenue earned across 2018 and 2019 be if the amount in 2019 was $700.0 million instead? (in million)

def solution():
    # Define variables name and value
    fy19_revenue = 700.0
    fy18_revenue = 639.0

    # Do math calculation to get the answer
    answer = (fy19_revenue + fy18_revenue) / 2

    return answer

||FY19|FY18¹|Growth %|Growth %|
||$m (Reported)|$m (Reported)|(Reported)|(CC)|
|Revenue by Region:|||||
|– Americas|253.3|223.6|13.3|13.4|
|– EMEA|363.6|324.5|12.0|12.7|
|– APJ|93.7|90.9|3.1|6.2|
||710.6|639.0|11.2|12.0|
|Revenue by Product:|||||
|– Network|328.5|316.5|3.8|4.7|
|– Enduser|348.4|291.8|19.4|20.2|
|– Other|33.7|30.7|9.8|10.0|
||710.6|639.0|11.2|12.0|
|Revenue by Type:|||||
|– Subscription|593.9|512.4|15.9|16.7|
|– Hardware|106.8|115.1|(7.2)|(6.3)|
|– Other|9.9|11.5|(13.9)|(12.8)|
||710.6|639.0|11.2|12.0|
 Revenue and deferred revenue The Group adopted IFRS 15 Revenue from Contracts with Customers in the current year and has therefore restated the results for the prior-year on a consistent basis, see note 2 of the Financial Statements for further details. The Group’s revenue increased by $71.6 million, or 11.2 per cent, to $710.6 million in the year-ended 31 March 2019. Subscription revenue was notably strong in the period, with reported growth of 15.9 per cent, or 16.7 per cent on a constant currency basis, because of strong prior-period billings and incremental growth of the MSP channel in the current period. 1 Restated for the adoption of IFRS 15 as explained in note 2 of the Financial Statements Revenue in the period of $710.6 million comprised $394.1 million from the recognition of prior-period deferred revenues and $316.5 million from in-period billings. The majority of the Group’s billings, which are recognised over the life of the contract, relate to subscription products (FY19: 84.8 per cent; FY18: 83.8 per cent), with the benefit from increased billings being spread over a number of years on the subsequent recognition of deferred revenue. The deferred revenue balance at the end of the period of $742.1 million increased $13.5 million year-on-year, an increase of 1.9 per cent. This was mainly due to a net deferral of billings amounting to $49.7 million partially offset by a net currency revaluation of $36.2 million, a consequence of the weakening of the euro and sterling against the US dollar during the year. Deferred revenue due within one year at the balance sheet date of $428.6M increased by 5.1 per cent at actual rates or by 10.7 per cent in constant currency. Revenue in the Americas increased by $29.7 million or 13.3 per cent to $253.3 million in the year-ended 31 March 2019, supported by the recognition of prior-period Enduser billings from the Sophos Central platform and the growth of the MSP channel in the current period. EMEA revenue increased by $39.1 million or 12.0 per cent to $363.6 million in the year-ended 31 March 2019, with growth in Enduser in particular, but also aided by Network sales. APJ revenue increased by $2.8 million, or 3.1 per cent to $93.7 million in the year-ended 31 March 2019, with good growth in Enduser products partially offset by a decline in Network sales following the legacy product transition.

Answer: 669.5


Question: What would be the difference between the total net sales and gross profit if the total gross profit was $4,000 million instead? (in million)

def solution():
    # Define variables name and value
    total_net_sales = 5349.5
    new_gross_profit = 4000

    # Do math calculation to get the answer
    answer = total_net_sales - new_gross_profit

    return answer

|Fiscal 2019|First Quarter|Second Quarter|Third Quarter|Fourth Quarter|Total|
|Net sales|$1,212.5|$1,432.5|$1,374.7|$1,329.8|$5,349.5|
|Gross profit|$642.0|$689.3|$779.6|$820.5|$2,931.3|
|Operating income|$132.3|$102.7|$194.7|$284.6|$714.3|
|Net income from continuing operations|$35.7|$96.3|$49.2|$174.7|$355.9|
|Diluted net income per common share|$0.14|$0.38|$0.20|$0.70|$1.42|
 Note 21. Quarterly Results (Unaudited) The following table presents the Company's selected unaudited quarterly operating results for the eight quarters ended March 31, 2019. The Company believes that all adjustments of a normal recurring nature have been made to present fairly the related quarterly results (in millions, except per share amounts). Amounts may not add to the total due to rounding: Refer to Note 11, Income Taxes, for an explanation of the one-time transition tax recognized in the third quarter of fiscal 2018. Refer to Note 4, Special Charges and Other, Net, for an explanation of the special charges included in operating income in fiscal 2019 and fiscal 2018. Refer to Note 12, Debt and Credit Facility, for an explanation of the loss on settlement of debt included in other (loss) income, net of $4.1 million during the second quarter, $0.2 million during the third quarter, and $8.3 million during the fourth quarter of fiscal 2019 and $13.8 million and $2.1 million for the first quarter and third quarter of fiscal 2018, respectively. Refer to Note 5, Investments, for an explanation of the impairment recognized on available-for-sale securities in the fourth quarter of fiscal 2018.

Answer: 1349.5


Question: What would the percentage change in the income before income taxes from Foreign countries from 2018 to 2019 be if the amount in 2019 was 3,000,000 thousand instead? (in percent)

def solution():
    # Define variables name and value
    foreign_income_2018 = 3_023_599
    foreign_income_2019_new = 3_000_000

    # Do math calculation to get the answer
    answer = ((foreign_income_2019_new - foreign_income_2018) / foreign_income_2018) * 100

    return answer

|||YearEnded||
||June 30, 2019|June 24, 2018|June 25, 2017|
|||(in thousands)||
|United States|$(59,876)|$128,190|$7,553|
|Foreign|2,506,447|3,023,599|1,804,120|
||$2,446,571|$3,151,789|$1,811,673|
 Note 7: Income Taxes On December 22, 2017, the “Tax Cuts & Jobs Act” was signed into law and was effective for the Company starting in the quarter ended December 24, 2017. U.S. tax reform reduced the U.S. federal statutory tax rate from 35% to 21%, assessed a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and created new taxes on certain foreign sourced earnings. The impact on income taxes due to a change in legislation is required under the authoritative guidance of Accounting Standards Codification (“ASC”) 740, Income Taxes, to be recognized in the period in which the law is enacted. In conjunction, the SEC issued Staff Accounting Bulletin (“SAB”) 118, which allowed for the recording of provisional amounts related to U.S. tax reform and subsequent adjustments related to U.S. tax reform during an up to one-year measurement period that is similar to the measurement period used when accounting for business combinations. The Company recorded what it believed to be reasonable estimates during the SAB 118 measurement period. During the December 2018 quarter, the Company finalized the accounting of the income tax effects of U.S. tax reform. Although the SAB 118 measurement period has ended, there may be some aspects of U.S. tax reform that remain subject to future regulations and/or notices which may further clarify certain provisions of U.S. tax reform. The Company may need to adjust its previously recorded amounts to reflect the recognition and measurement of its tax accounting positions in accordance with ASC 740; such adjustments could be material. The computation of the one-time transition tax on accumulated unrepatriated foreign earnings was recorded on a provisional basis in the amount of $883.0 million in the fiscal year ended June 24, 2018, as permitted under SAB 118. The Company recorded a subsequent provisional adjustment of $36.6 million, as a result of incorporating new information into the estimate, in the Condensed Consolidated Financial Statements in the three months ended September 23, 2018. The Company finalized the computation of the transition tax liability during the December 2018 quarter. The final adjustment resulted in a tax benefit of $51.2 million, which was recorded in the Company’s Condensed Consolidated Financial Statements in the three months ended December 23, 2018. The final balance of total transition tax is $868.4 million. The one-time transition tax is based on the Company’s total post-1986 earnings and profits (“E&P”) that was previously deferred from U.S. income taxes. The Company had previously accrued deferred taxes on a portion of this E&P. The Company has completed the calculation of total post-1986 E&P and related income tax pools for its foreign subsidiaries. The Company elected to pay the one-time transition tax over a period of eight years. Beginning in fiscal year 2019, the Company is subject to the impact of the GILTI provision of U.S. tax reform. The GILTI provision imposes taxes on foreign earnings in excess of a deemed return on tangible assets. The Company has calculated the impact of the GILTI provision on current year earnings and has included the impact in the effective tax rate. The Company made an accounting policy election in the September 2018 quarter to record deferred taxes in relation to the GILTI provision, and recorded a provisional tax benefit of $48.0 million in the Condensed Consolidated Financial Statements in the three months ended September 23, 2018, under SAB 118. The Company finalized the computation of the accounting policy election during the December 2018 quarter. The final adjustment resulted in a tax expense of $0.4 million, which was recorded in the Company’s Condensed Consolidated Financial Statements in the three months ended December 23, 2018. The final tax benefit of the election is $47.6 million. The components of income (loss) before income taxes were as follows:

Answer: -0.780493709648667


Question: What would be the average number of securities underlying options of those executive officers who receive them if Ms. Whiteley’s number of securities options is 109,026?

def solution():
    # Define variables name and value
    num_executive_officers = 4
    ms_friar_options = 109026
    ms_henry_options = 109026
    ms_reses_options = 109026
    ms_whiteley_options = 109026

    # Do math calculation to get the answer
    answer = (ms_friar_options + ms_henry_options + ms_reses_options + ms_whiteley_options) / num_executive_officers

    return answer

|Named Executive Officer|Number of Securities Underlying Options(#)|RSUs or RSAs (#)|Fair Value ($)|
|Ms. Friar (1)|109,026 (2)|38,159 (3)|3,479,299|
|Ms. Henry|109,026 (2)|38,159 (3)|3,479,299|
|Ms. Reses|109,026 (2)|38,159 (3)|3,479,299|
|Ms. Whiteley|47,699 (2)|28,479 (4)|2,339,553|
|Mr. Daswani (5)|-|4,198 (6)|187,861|
|Mr. Murphy (5)|-|4,962 (7)|222,050|
 In 2018, we granted new equity awards to our named executive officers described in the table below. In determining the size and terms of these equity awards for Mses. Friar, Henry, Reses and Whiteley, our compensation committee, with input from our CEO, our then-current People Lead and Compensia, considered the past and expected future key contributions of each of these named executive officers, the extent to which their existing equity awards were vested and the competitive market data for similarly situated executives. Our compensation committee believed it was appropriate to grant each of them new equity awards to help achieve our retention goals and further align their compensation with the competitive market. (1) Ms. Friar resigned from her position as Chief Financial Officer, effective as of November 16, 2018. (2) One-twelfth of 10% of the shares subject to the option vest in equal monthly installments over one year from April 1, 2018, and one-thirty-sixth of 90% of the shares subject to the option vest in equal monthly installments over three years from April 1, 2019, subject to continued service with us. (3) 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us. (4) With respect to 16,695 of the total RSAs, 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us. And, with respect to 11,784 of the total RSAs, one-sixteenth of RSAs vest in 16 equal quarterly installments over four years from October 1, 2018, subject to continued service with us. (5) Messrs. Daswani and Murphy did not receive any additional equity awards in conjunction with their service as interim co-CFOs. Equity awards to Messrs. Daswani and Murphy were granted equity awards in April 2018, prior to their becoming named executive officers, as part of the company-wide compensation review program. Their grants were recommended by their direct manager, reviewed by the then-current People Lead and approved by our compensation committee. (6) With respect to 1,336 of the total RSAs, one-sixteenth of RSAs vest in 16 equal quarterly installments over four years from April 1, 2018, subject to continued service with us. And, with respect to 2,862 of the total RSAs, 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us. (7) With respect to 1,527 of the total RSAs, one-sixteenth of RSAs vest in 16 equal quarterly installments over four years from April 1, 2018, subject to continued service with us. And, with respect to 3,435 of the total RSAs, 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us. Mr. Dorsey did not receive any equity awards in 2018 at his request, and because our compensation committee believed that his existing equity ownership position sufficiently aligned his interests with those of our stockholders.

Answer: 109026.0


Question: If the net revenues by Americas in 2019 is increased to 1,901 million, what is the revised average for Year Ended December 31? (in million)

def solution():
    # Define variables name and value
    americas_2019 = 1901
    americas_2018 = 1264
    americas_2017 = 1085

    # Do math calculation to get the answer
    answer = (americas_2019 + americas_2018 + americas_2017) / 3

    return answer

||Year Ended December 31,|Year Ended December 31,|Year Ended December 31,|% Variation|% Variation|
||2019|2018|2017|2019 vs 2018|2018 vs 2017|
||(In millions)|(In millions)|(In millions)|||
|EMEA|$2,265|$2,478|$2,142|(8.6)%|15.7%|
|Americas|1,351|1,264|1,085|6.8|16.5|
|Asia Pacific|5,940|5,922|5,120|0.3|15.7|
|Total|$9,556|$9,664|$8,347|(1.1)%|15.8%|
 Net revenues by location of shipment are classified by location of customer invoiced or reclassified by shipment destination in line with customer demand. For example, products ordered by U.S.-based companies to be invoiced to Asia Pacific affiliates are classified as Asia Pacific revenues. By location of shipment, in 2019, revenues grew 6.8% in Americas, driven by Power Discrete, remained substantially flat in Asia and decreased 8.6% in EMEA, mainly due to lower sales of Microcontrollers and Power Discrete. In 2018 revenues grew across all regions, led by Asia Pacific and EMEA, mainly due to growth in Imaging and Automotive.

Answer: 1416.6666666666667


Question: What would be the total price of exercised or expired options during the fiscal year 2019 if the weighted-average exercise price of exercised options was $4.25?

def solution():
    # Define variables name and value
    exercised_options = 251063
    exercised_price = 4.25
    expired_options = 89550
    expired_price = 12.55

    # Do math calculation to get the answer
    answer = (exercised_options * exercised_price) + (expired_options * expired_price)

    return answer

||Number of Options|Weighted average exercise price|Weighted average remaining contractual life (years)|Aggregate intrinsic value $|
|Outstanding, January 1, 2018|1,368,772|$3.12|||
|Granted – 2018|401,099|$9.27|||
|Exercised – 2018|(165,169)|$3.16|||
|Expired – 2018|(50,002)|$5.48|||
|Outstanding, December 31, 2018|1,554,700|$4.63|3.0||
|Granted – 2019|410,134|$12.28|||
|Exercised – 2019|(251,063)|$3.73|||
|Expired – 2019|(89,550)|$12.55|||
|Outstanding, December 31, 2019|1,624,221|$6.27|2.6|$7,925,643|
|Exercisable, December 31, 2019|1,143,637|$4.39|1.9|$7,197,053|
 NOTE 11 – STOCK COMPENSATION The Company sponsors a stock-based incentive compensation plan known as the 2013 Equity Compensation Plan (the “Plan”), which was established by the Board of Directors of the Company in June 2013. A total of 500,000 shares were initially reserved for issuance under the Plan. The Plan was amended several times since then to eventually increase the authorized shares to 2,500,000 as of December 31, 2019. A total of 1,624,221 shares of common stock underlying options were outstanding at December 31, 2019. The Company had 236,614 remaining shares available to grant under the Plan at December 31, 2019. The Plan allows the Company to grant incentive stock options, non-qualified stock options, stock appreciation rights, or restricted stock. The incentive stock options are exercisable for up to ten years, at an option price per share not less than the fair market value on the date the option is granted. The incentive stock options are limited to persons who are regular full-time employees of the Company at the date of the grant of the option. Non-qualified options may be granted to any person, including, but not limited to, employees, independent agents, consultants and attorneys, who the Company’s Board or Compensation Committee believes have contributed, or will contribute, to the success of the Company. Non-qualified options may be issued at option prices of less than fair market value on the date of grant and may be exercisable for up to ten years from date of grant. The option vesting schedule for options granted is determined by the Compensation Committee of the Board of Directors at the time of the grant. The Plan provides for accelerated vesting of unvested options if there is a change in control, as defined in the Plan. The compensation cost that has been charged against income related to options for the years ended December 31, 2019 and 2018, was $1,687,745 and $1,317,904, respectively. No income tax benefit was recognized in the income statement and no compensation was capitalized in any of the years presented. The Company had the following option activity during the years ended December 31, 2019 and 2018: Of the options outstanding at December 31, 2019, 1,143,637 were exercisable with a weighted average contractual life of 1.9 years.

Answer: 2190870.25


Question: What would the percentage change in Capital lease obligations from 2018 to 2019 be if the amount in 2019 was $358 thousand instead? (in percent)

def solution():
    # Define variables name and value
    capital_lease_obligations_2018 = 158
    capital_lease_obligations_2019_alternative = 358

    # Do math calculation to get the answer
    answer = (capital_lease_obligations_2019_alternative - capital_lease_obligations_2018) / capital_lease_obligations_2018 * 100

    return answer

||Fiscal year-end||
||2019|2018|
|Current portion of Euro Term Loan(1)|$2,748|$3,092|
|1.3% Term loan due 2024|1,367|1,448|
|1.0% State of Connecticut term loan due 2023|378|374|
|Capital lease obligations|370|158|
|Line of credit borrowings|10,000|—|
|Total current portion of long-term obligations|$14,863|$5,072|
 Short-term borrowings and current portion of long-term obligations consist of the following (in thousands): (1) Net of debt issuance costs of $4.6 million and $4.7 million at September 28, 2019 and September 29, 2018, respectively.

Answer: 126.58227848101266


Question: What would be the percentage change in revenue after the adoption of ASC 606 if the as reported revenue is now 80,000? (in percent)

def solution():
    # Define variables name and value
    new_reported_revenue = 80000
    without_ASC_606_revenue = 68845

    # Do math calculation to get the answer
    answer = (new_reported_revenue - without_ASC_606_revenue) / without_ASC_606_revenue * 100

    return answer

|||For the Year Ended December 31, 2018||
||As Reported|Without Adoption of ASC 606|Impact of Adoption of ASC 606|
|Revenue|$70,965|$68,845|$(2,120)|
|Cost of goods sold|58,701|57,471|(1,230)|
|Gross profit|12,264|11,374|(890)|
 3. REVENUE FROM CONTRACTS WITH CUSTOMERS Revenues and related costs on construction contracts are recognized as the performance obligations are satisfied over time in accordance with ASC 606, Revenue from Contracts with Customers. Under ASC 606, revenue and associated profit, will be recognized as the customer obtains control of the goods and services promised in the contract (i.e., performance obligations). The cost of uninstalled materials or equipment will generally be excluded from the Company’s recognition of profit, unless specifically produced or manufactured for a project, because such costs are not considered to be a measure of progress. The following tables summarize the impact of the adoption of ASC 606 on the Company’s condensed consolidated statement of operations for the year ended December 31, 2018 and the consolidated balance sheet as of December 31, 2018:

Answer: 16.20306485583557


Question: If Unrealized (losses) gains in 2018 was 100,000 thousands, what would be the percentage change from 2017 to 2018? (in percent)

def solution():
    # Define variables name and value
    unrealized_losses_gains_2017 = 82668
    unrealized_losses_gains_2018 = 100000

    # Do math calculation to get the answer
    answer = (unrealized_losses_gains_2018 / unrealized_losses_gains_2017 - 1) * 100

    return answer

|||Year Ended December 31,||
||2019|2018|2017|
||$|$|$|
|Realized gains (losses) on maturity and/or partial termination of cross currency swap|—|(42,271)|(25,733)|
|Realized losses|(5,062)|(6,533)|(18,494)|
|Unrealized (losses) gains|(13,239)|21,240|82,668|
|Total realized and unrealized (losses) gains on cross currency swaps|(18,301)|(27,564)|38,441|
 Realized and unrealized losses of the cross currency swaps are recognized in earnings and reported in foreign exchange (loss) gain in the consolidated statements of loss. The effect of the gains (losses) on cross currency swaps on the consolidated statements of loss is as follows: The Company is exposed to credit loss to the extent the fair value represents an asset in the event of non-performance by the counterparties to the foreign currency forward contracts, and cross currency and interest rate swap agreements; however, the Company does not anticipate non-performance by any of the counterparties. In order to minimize counterparty risk, the Company only enters into derivative transactions with counterparties that are rated A- or better by Standard & Poor’s or A3 or better by Moody’s at the time of the transaction. In addition, to the extent possible and practical, interest rate swaps are entered into with different counterparties to reduce concentration risk. (all tabular amounts stated in thousands of U.S. dollars, other than share data and unless otherwise indicated)

Answer: 20.96579087434074


Question: What would be the average value of packaging for years 2018 and 2019 if the value of packaging in 2019 decreased by 100?

def solution():
    # Define variables name and value
    packaging_2019 = 2230
    packaging_2018 = 2072
    decrease_value = 100

    # Do math calculation to get the average value of packaging for years 2018 and 2019
    answer = ((packaging_2019 - decrease_value) + packaging_2018) / 2

    return answer

|||December 31,|
||2019|2018|
|Ingredients|$ 1,942|$ 1,580|
|Packaging|2,230|2,072|
|Finished goods|2,220|2,165|
|Total inventories, net|$ 6,392|$ 5,817|
 Note 3 – Inventories, net Inventories consisted of the following:

Answer: 2101.0


Question: What is the percentage change in settlements between 2018 and 2019 if settlements in 2019 were -$30.0 million instead? (in percent)

def solution():
    # Define variables name and value
    settlements_2019 = -30.0
    settlements_2018 = -7.0

    # Do math calculation to get the answer
    answer = (settlements_2019 - settlements_2018) / settlements_2018 * 100

    return answer

||2019|2018|
|Beginning balance as of January 1,|$1,210.0|$1,175.3|
|Additions|61.8|39.6|
|Accretion expense|81.6|83.6|
|Revisions in estimates (1)|56.8|(81.5)|
|Settlements|(26.1)|(7.0)|
|Balance as of December 31,|$1,384.1|$1,210.0|
 AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENT(Tabular amounts in millions, unless otherwise disclosed) 11. ASSET RETIREMENT OBLIGATIONS The changes in the carrying amount of the Company’s asset retirement obligations were as follows: (1) Revisions in estimates include decreases to the liability of $6.7 million and $49.4 million related to foreign currency translation for the years ended December 31, 2019 and 2018, respectively. As of December 31, 2019, the estimated undiscounted future cash outlay for asset retirement obligations was $3.2 billion.

Answer: 328.57142857142856


Question: What would be the percentage change in net income attributable in relation to the non-controlling shareholders who hold interests in Hilli LLC if the amount in 2019 is $28.3 million? (in percent)

def solution():
    # Define variables name and value
    net_income_2019 = 28.3
    net_income_2018 = 19.7

    # Do math calculation to get the answer
    answer = ((net_income_2019 - net_income_2018) / net_income_2018) * 100

    return answer

|||December 31,|||
|(in thousands of $)|2019|2018|Change|% Change|
|Interest income|10,479|10,133|346|3%|
|Interest expense|(103,124)|(101,908)|(1,216)|1%|
|Losses on derivative instruments|(38,044)|(30,541)|(7,503)|25%|
|Other financial items, net|(5,522)|(1,481)|(4,041)|100%|
|Income taxes|(1,024)|(1,267)|243|(19)%|
|Net income attributable to non-controlling interests|(89,581)|(63,214)|(26,367)|42%|
 Other non-operating results The following details our other consolidated results for the years ended December 31, 2019 and 2018: Interest expense: Interest expense increased by $1.2 million to $103.1 million for the year ended December 31, 2019 compared to $101.9 million for the same period in 2018. The increase in interest expense was primarily due to:
• $28.9 million lower capitalized interest on borrowing costs in relation to our investment in the Hilli FLNG conversion following acceptance of the vessel by the charterer in May 2018; and
• $1.5 million interest on the term loan facility, drawn in September 2019. This was partially offset by reduced interest costs due to lower LIBOR rates, resulting in:
• $12.4 million decrease in interest expense arising on the loan facilities of our consolidated lessor VIEs;
• $8.7 million capitalized interest on borrowing costs in relation to our investments;
• $6.5 million decrease in interest expense incurred on the deposits received from Golar Partners following application of the deposit to the Hilli acquisition price and the conversion of the Hilli shareholder loans to equity following the Hilli Disposal in July 2018; and
• $1.0 million decrease in interest expense on the Hilli letter of credit, due to a contractual step down in the Hilli letter of credit from $300 million to $250 million in May 2019, and a further step down to $125 million in November 2019. Losses on derivative instruments: Losses on derivative instruments increased by $7.5 million to a loss of $38.0 million for the year ended December 31, 2019 compared to a loss of $30.5 million for the same period in 2018. The movement was primarily due to: Net unrealized and realized (losses)/gains on interest rate swap agreements: As of December 31, 2019, we have an interest rate swap portfolio with a notional amount of $737.5 million, none of which are designated as hedges for accounting purposes. Net unrealized losses on the interest rate swaps increased to a loss of $16.5 million for the year ended December 31, 2019 compared to a gain of $0.6 million for the same period in 2018, due to a decline in the long-term swap rates, partially offset by the decreased notional value of our swap portfolio over the period. Realized gains on our interest rate swaps decreased to a gain of $6.4 million for the year ended December 31, 2019, compared to a gain of $8.1 million for the same period in 2018. The decrease was primarily due to lower LIBOR rates for the year ended December 31, 2019. Unrealized losses on Total Return Swap: In December 2014, we established a three month facility for a Stock Indexed Total Return Swap Programme or Equity Swap Line with DNB Bank ASA in connection with a share buyback scheme. In November 2019, we repurchased 1.5 million shares underlying the equity swap. The remaining facility has been extended to March 2020. The equity swap derivatives mark-to-market adjustment resulted in a net loss of $30.5 million recognized in the year ended December 31, 2019 compared to a loss of $30.7 million for the same period in 2018. The losses in 2019 and 2018 are due to the decline in our share price. Unrealized mark-to-market losses on Earn-Out Units: This relates to the mark-to-market movement on the Earn-Out Units issuable in connection with the IDR reset transaction in October 2016, which we recognize as a derivative asset in our consolidated financial statements. The decrease in Golar Partners' quarterly distribution to $0.4042 per common unit on October 24, 2018 resulted in the contingent Earn-Out Units arising out of the IDR reset transaction in October 2016 not crystallizing and, accordingly, we recognized a mark-to-market loss of $7.4 million for the year ended December 31, 2018, effectively reducing the derivative asset to $nil at December 31, 2018. There was no comparative movement for the year ended December 31, 2019. Other financial items, net: Other financial items, net decreased by $4.0 million to a loss of $5.5 million for the year ended December 31, 2019 compared to $1.5 million for the same period in 2018 primarily as a result of consolidating our lessor VIEs. Net income attributable to non-controlling interests: Net income attributable to non-controlling interests increased by $26.4 million to $89.6 million for the year ended December 31, 2019 compared to $63.2 million for the same period in 2018 mainly due to the completion of the Hilli Disposal in July 2018. The non-controlling interest in relation to the Hilli Disposal for the year ended December 31, 2019 amounted to $61.7 million, compared to $31.3 million for the same period in 2018. The net income attributable to non-controlling interests comprises of: • $36.5 million and $19.7 million in relation to the non-controlling shareholders who hold interests in Hilli LLC for the year ended December 31, 2019 and 2018, respectively; • $0.5 million in relation to the non-controlling shareholders who hold interests in Gimi MS Corporation for the year ended December 31, 2019, following the subscription of 30% equity interest by First FLNG Holdings in April 2019; and • $28.3 million and $31.9 million in relation to the equity interests in our remaining lessor VIEs for the year ended December 31, 2019 and 2018, respectively.

Answer: 43.654822335025386


Question: What would be the proportion of total operating lease obligations that expire in 3 years over total operating lease obligations if the total operating lease obligations was $9,500 thousand?

def solution():
    # Define variables name and value
    operating_lease_less_than_1_year = 1699
    operating_lease_1_to_3_years = 3950
    total_operating_lease_obligations = 9500

    # Do math calculation to get the answer
    answer = (operating_lease_less_than_1_year + operating_lease_1_to_3_years) / total_operating_lease_obligations

    return answer

||Less than 1 year|1-3 years|3-5 years|More than 5 years|Total|
|Operating lease obligations|$1,699|$3,950|$2,707|$36|$8,392|
|Other borrowings|131|145|219|61|556|
|Total|$1,830|$4,095|$2,926|$97|$8,948|
 Contractual Obligations The following table summarizes our contractual obligations as of September 30, 2019 (in thousands): Our principal executive offices, as well as our research and development facility, are located in approximately 29,000 square feet of office space in San Diego, California and the term of the lease continues through June 30, 2024. The average annual base rent under this lease is approximately $1.0 million per year. In connection with this lease, we received tenant improvement allowances totaling approximately $1.0 million. These lease incentives are being amortized as a reduction of rent expense over the term of the lease. Our other offices are located in Paris, France; Amsterdam, The Netherlands; New York, New York; Barcelona, Spain; and London, United Kingdom. The
term of the Paris, France lease continues through July 31, 2021, with an annual base rent of approximately €0.4 million (or $0.4 million). The term of the
Amsterdam, The Netherlands lease continues through December 31, 2022, with an annual base rent of approximately €0.2 million (or $0.2 million). The term of
the New York, New York lease continues through November 30, 2024, with an annual base rent of approximately $0.2 million. The term of the Barcelona, Spain lease continues through May 31, 2023, with an annual base rent of approximately €0.1 million (or $0.1 million). The term of the London, United Kingdom lease continues through May 31, 2020, with an annual base rent of approximately £63,000 (or approximately $78,000). Our other offices are located in Paris, France; Amsterdam, The Netherlands; New York, New York; Barcelona, Spain; and London, United Kingdom. The term of the Paris, France lease continues through July 31, 2021, with an annual base rent of approximately €0.4 million (or $0.4 million). The term of the Amsterdam, The Netherlands lease continues through December 31, 2022, with an annual base rent of approximately €0.2 million (or $0.2 million). The term of the New York, New York lease continues through November 30, 2024, with an annual base rent of approximately $0.2 million. The term of the Barcelona, Spain lease continues through May 31, 2023, with an annual base rent of approximately €0.1 million (or $0.1 million). The term of the London, United Kingdom lease continues through May 31, 2020, with an annual base rent of approximately £63,000 (or approximately $78,000). Other than the lease for our office space in San Diego, California, we do not believe that the leases for our offices are material to the Company. We believe our existing properties are in good condition and are sufficient and suitable for the conduct of its business.

Answer: 0.5946315789473684


Question: If product development Share-based Compensation in 2019 was 1,500 thousands, what would be the increase / (decrease) in the product development Share-based Compensation from 2018 to 2019? (in thousand)

def solution():
    # Define variables name and value
    product_development_2019 = 1500
    product_development_2018 = 1306

    # Do math calculation to get the answer
    answer = product_development_2019 - product_development_2018

    return answer

|||Year ended March 31,||
|(In thousands)|2019|2018|2017|
|Product development|$1,478|$1,306|$1,545|
|Sales and marketing|469|371|360|
|General and administrative|2,429|3,011|522|
|Total share-based compensation expense|$4,376|$4,688|$2,427|
 14. Share-based Compensation We may grant non-qualified stock options, incentive stock options, SSARs, restricted shares, and restricted share units under our shareholder-approved 2016 Stock Incentive Plan (the 2016 Plan) for up to 2.0 million common shares, plus 957,575 common shares, the number of shares that were remaining for grant under the 2011 Stock Incentive Plan (the 2011 Plan) as of the effective date of the 2016 Plan, plus the number of shares remaining for grant under the 2011 Plan that are forfeited, settled in cash, canceled or expired. The maximum aggregate number of restricted shares or restricted share units that may be granted under the 2016 Plan is 1.25 million. We may distribute authorized but unissued shares or treasury shares to satisfy share option and appreciation right exercises or restricted share and performance share awards. For stock options and SSARs, the exercise price must be set at least equal to the closing market price of our common shares on the date of grant. For stock options and SSARs, the exercise price must be stock options and SSARs. The maximum term of stock option and SSAR awards is seven years from the date of grant. Stock option and SSARs awards vest over a period established by the Compensation Committee of the Board of Directors. SSARs may be granted in conjunction with, or independently from, stock option grants. SSARs granted in connection with a stock option are exercisable only to the extent that the stock option to which it relates is exercisable and the SSARs terminate upon the termination or exercise of the related stock option grants. Restricted shares and restricted share units, whether time-vested or performance-based, may be issued at no cost or at a purchase price that may be below their fair market value, but are subject to forfeiture and restrictions on their sale or other transfer. Performance-based awards may be conditioned upon the attainment of specified performance objectives and other conditions, restrictions, and contingencies. Restricted shares and restricted share units have the right to receive dividends, or dividend equivalents in the case of restricted share units, if any, upon vesting, subject to the same forfeiture provisions that apply to the underlying awards. Subject to certain exceptions set forth in the 2016 Plan, for awards to employees, no performance-based restricted shares or restricted share units shall be based on a restriction period of less than one year, and any time-based restricted shares or restricted share units shall have a minimum restriction period of three years. We record compensation expense related to stock options, stock-settled stock appreciation rights, restricted shares, and performance shares granted to certain employees and non-employee directors based on the fair value of the awards on the grant date. The fair value of restricted share and performance share awards is based on the closing price of our common shares on the grant date. The fair value of stock option and stock-settled appreciation right awards is estimated on the grant date using the Black-Scholes-Merton option pricing model, which includes assumptions regarding the risk-free interest rate, dividend yield, life of the award, and the volatility of our common shares. The following table summarizes the share-based compensation expense for options, SSARs, restricted and performance awards included in the Consolidated Statements of Operations for fiscal 2019, 2018 and 2017:

Answer: 194.0


Question: What would be the percentage change in operating income between 2017 and 2018 if the amount in 2018 was 19,283 thousand? (in percent)

def solution():
    # Define variables name and value
    operating_income_2018 = 19283
    operating_income_2017 = 10735

    # Do math calculation to get the answer
    answer = (operating_income_2018 - operating_income_2017) / operating_income_2017 * 100

    return answer

|||December 31,|||
|(in thousands of $)|2018|2017|Change|% Change|
|Total operating revenues|127,625|—|127,625|100%|
|Vessel operating expenses|(26,317)|(2)|(26,315)|1,315,750%|
|Voyage expenses|(1,363)|(121)|(1,242)|1,026%|
|Administrative expenses|175|(1,736)|1,911|(110)%|
|Project development expenses|(16,526)|(2,506)|(14,020)|559%|
|Depreciation and amortization|(28,193)|—|(28,193)|100%|
|Other operating gains|2,749|15,100|(12,351)|(82)%|
|Operating income|58,150|10,735|47,415|442%|
|Equity in net losses of affiliates|(2,047)|(8,153)|6,106|(75)%|
 FLNG segment Total operating revenues: On May 31, 2018, the Hilli was accepted by the Customer and, accordingly, commenced operations. As a result, she generated $127.6 million total operating revenues in relation to her liquefaction services for the year ended December 31, 2018. Vessel operating expenses: This represents the vessel operating expenses incurred by the Hilli since she commenced operations. Project development expenses: This relates to non-capitalized project-related expenses comprising of legal, professional and consultancy costs. The increase for the twelve months ended December 31, 2018 was primarily as a result of increased engineering consultation fees and front-end engineering and design costs in relation to the Gimi GTA project. Depreciation: Subsequent to the Customer's acceptance of the Hilli, we determined her to be operational and, therefore, depreciation commenced during the second quarter of 2018. Other operating gains: Includes the realized and unrealized gain on the oil derivative instrument. In 2018, we recognized a realized gain of $26.7 million, and an unrealized fair value loss of $10.0 million, relating to the LTA oil derivative instrument as a result of the increased price of Brent Crude during the year. The derivative asset was recognized upon the LTA becoming effective in December 2017. In 2017, we recognized an unrealized fair value gain of $15.1 million. For the year ended December 31, 2018, this is partially offset by a $1.3 million write off of capitalized conversion costs in relation to the Gandria. In addition, subsequent to the decision to wind down OneLNG, we wrote off $12.7 million of the trading balance with OneLNG as we deem it to be no longer recoverable. Equity in net losses of affiliates: Pursuant to the formation of OneLNG in July 2016, we equity account for our share of net losses in OneLNG. Given the difficulties in finalizing an attractive debt financing package along with other capital and resource priorities, in April 2018, Golar and Schlumberger decided to wind down OneLNG and work on FLNG projects as required on a case-by-case basis. As a result, activity levels have been substantially reduced for the year ended December 31, 2018 and the carrying value of the investment was written down to $nil.

Answer: 79.62738705170005


Question: If Asset impairment charges in 2019 were 60,000 thousands, what would be the change from 2018 to 2019? (in thousand)

def solution():
    # Define variables name and value
    asset_impairment_2019 = 60000
    asset_impairment_2018 = 58166

    # Do math calculation to get the answer
    answer = asset_impairment_2019 - asset_impairment_2018

    return answer

|||Year Ended December 31,||
|(In thousands)|2019|2018|2017|
|Asset impairment charges|$ 10,837|$ 58,166|$ 0|
|Goodwill impairment charge|$ 25,700|$ 13,466|$ 0|
|Impairment of long-term investments|$ 651|$ 15,487|$ 165,290|
 8. Asset Impairment Charges Asset impairment charges incurred during the year ended December 31, 2019 were primarily the result of impairing the remaining NantHealth acquired customer relationship intangible balance of $8.1 million. We also recognized non-cash impairment charges of $2.7 million on the retirement of certain hosting assets due to data center migrations. Impairment of long-term investments during the year ended December 31, 2019 consisted of an impairment of $1.7 million associated with one of our long-term equity investments. We also recovered $1.0 million from one of our long-term equity investments investment that we had previously impaired. We also recorded a goodwill impairment charge of $25.7 million related to our HHS reporting unit. Refer to Note 7, “Goodwill and Intangible Assets” for further information regarding this impairment. We incurred several non-cash asset impairment charges during the year ended December 31, 2018. We recorded non-cash asset impairment charges of $33.2 million related to the write-off of capitalized software as a result of our decision to discontinue several software development projects. We also recorded $22.9 million of non-cash asset impairment charges related to our acquisition of the patient/provider engagement solutions business from NantHealth in 2017, which included the write-downs of $2.2 million of acquired technology and $20.7 million, representing the unamortized value assigned to the modification of our existing commercial agreement with NantHealth, as we no longer expect to recover the value assigned to these assets. The remaining $2.1 million of non-cash asset impairment charges recorded during the year ended December 31, 2018 relate to the disposal of fixed assets as a result of relocating and consolidating business functions and locations from recent acquisitions. We recorded a goodwill impairment charge of $13.5 million related to NantHealth during the year ended December 31, 2018. Refer to Note 7, “Goodwill and Intangible Assets” for further information regarding this impairment. We recognized non-cash impairment charges of $15.5 million in 2018 related to two of our cost-method equity investments and a related note receivable. These charges equaled the cost bases of the investments and the related note receivable prior to the impairment. We recorded non-cash charges of $165.3 million during the year ended December 31, 2017, including impairment charges of $144.6 million associated with two of the Company’s long-term investments based on management’s assessment of the likelihood of near-term recovery of the investments’ value. The majority of the impairment charges related to our investment in NantHealth common stock. We realized an additional $20.7 million loss upon the final disposition of the NantHealth common stock in connection with our acquisition of certain assets related to NantHealth’s provider/patient engagement solutions business. Refer to Note 4, “Business Combinations and Other Investments” and Note 14, “Accumulated Other Comprehensive Loss,” for further information regarding these impairments. The following table summarizes the non-cash asset impairment charges recorded during the periods indicated and where they appear in the corresponding consolidated statements of operations:

Answer: 1834.0


Question: What was the change in the net carrying amount between the 2026 and 2027 Notes in 2018 if the net carrying amount in the 2026 notes was $900 million instead? (in million)

def solution():
    # Define variables name and value
    net_carrying_amount_2026_notes = 900
    net_carrying_amount_2027_notes = 395

    # Do math calculation to get the answer
    answer = net_carrying_amount_2027_notes - net_carrying_amount_2026_notes

    return answer

|||At December 31, 2019||
||Gross Carrying Amount|Unamortized Discount and Deferred Financing Costs|Net Carrying Amount|
|2021 Notes|$650|$(2)|$648|
|2022 Notes|400|(2)|398|
|2026 Notes|850|(7)|843|
|2027 Notes|400|(5)|395|
|2047 Notes|400|(9)|391|
|Total long-term debt|$2,700|$(25)|$2,675|
|||At December 31, 2018||
||Gross Carrying Amount|Unamortized Discount and Deferred Financing Costs|Net Carrying Amount|
|2021 Notes|650|(3)|647|
|2022 Notes|400|(3)|397|
|2026 Notes|850|(8)|842|
|2027 Notes|400|(5)|395|
|2047 Notes|400|(10)|390|
|Total long-term debt|$2,700|$(29)|$2,671|
 Interest expense and financing costs Fees and discounts associated with the issuance of our debt instruments are recorded as debt discount, which reduces their respective carrying values, and are amortized over their respective terms. Amortization expense is recorded within “Interest and other expense (income), net” in our consolidated statement of operations. For the years ended December 31, 2019, 2018, and 2017: interest expense was $86 million, $134 million, and $150 million, respectively; amortization of the debt discount and deferred financing costs was $4 million, $6 million, and $12 million, respectively. A summary of our outstanding debt is as follows (amounts in millions): With the exception of the 2026 and the 2047 Notes, using Level 2 inputs (i.e., observable market prices in less-than-active markets) at December 31, 2019, the carrying values of the Notes approximated their fair values, as the interest rates were similar to the current rates at which we could borrow funds over the selected interest periods. At December 31, 2019, based on Level 2 inputs, the fair value of the 2026 and the 2047 Notes were $893 million and $456 million, respectively. Using Level 2 inputs at December 31, 2018, the carrying values of the 2021 Notes and the 2022 Notes approximated their fair values, as the interest rates were similar to the current rates at which we could borrow funds over the selected interest periods. At December 31, 2019, based on Level 2 inputs, the fair values of the 2026 Notes, the 2027 Notes, and the 2047 Notes were $800 million, $376 million, and $360 million, respectively.

Answer: -505.0


Question: If the Carrying Value at December 31, 2019 for Food Care was adjusted to $529.4(in millions) instead, What is the average annual growth rate of Carrying value for Food Care for years 2017-2019? (in percent)

def solution():
    # Define variables name and value
    carrying_value_2017 = 526.9
    carrying_value_2018 = 519.7
    adjusted_carrying_value_2019 = 529.4

    # Do math calculation to get the answer
    growth_rate_2018 = (carrying_value_2018 - carrying_value_2017) / carrying_value_2017
    growth_rate_2019 = (adjusted_carrying_value_2019 - carrying_value_2018) / carrying_value_2018
    average_annual_growth_rate = (growth_rate_2018 + growth_rate_2019) / 2

    return average_annual_growth_rate * 100

|(In millions)|Food Care|Product Care|Total|
|Gross Carrying Value at December 31, 2017|$ 576.5|$ 1,554.1|$ 2,130.6|
|Accumulated impairment|(49.6 )|(141.2)|(190.8)|
|Carrying Value at December 31, 2017|$ 526.9|$ 1,412.9|$ 1,939.8|
|Acquisition, purchase price and other adjustments|(0.6 )|18.2|17.6|
|Currency translation|(6.6 )|(3.2)|(9.8)|
|Gross Carrying Value at December 31, 2018|$ 568.9|$ 1,568.9|$ 2,137.8|
|Accumulated impairment|(49.2 )|(141.0)|(190.2)|
|Carrying Value at December 31, 2018|$ 519.7|$ 1,427.9|$ 1,947.6|
|Acquisition, purchase price and other adjustments|6.3|257.0|263.3|
|Currency translation|2.0|4.1|6.1|
|Gross Carrying Value at December 31, 2019|$ 577.2|$ 1,830.0|$ 2,407.2|
|Accumulated impairment|(49.3 )|(141.0)|(190.3)|
|Carrying Value at December 31, 2019|$ 527.9|$ 1,689.0|$ 2,216.9|
 Allocation of Goodwill to Reporting Segment The following table shows our goodwill balances by reportable segment: As noted above, it was determined under a quantitative assessment that there was no impairment of goodwill. However, if we become aware of indicators of impairment in future periods, we may be required to perform an interim assessment for some or all of our reporting units before the next annual assessment. Examples of such indicators may include a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more likely than not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of. In the event of significant adverse changes of the nature described above, we may have to recognize a non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and results of operations.

Answer: 0.24998910820303658


Question: How much would the change of “All Other Fees” from 2017 to 2018 be if the “All Other Fees” in 2017 is $1 thousand? (in thousand)

def solution():
    # Define variables name and value
    all_other_fees_2017 = 3
    new_all_other_fees_2017 = 1

    # Do math calculation to get the answer
    answer = all_other_fees_2017 - new_all_other_fees_2017

    return answer

||2017|2018|
||(In Thousands)|(In Thousands)|
|Audit Fees (1)|$3,747|$4,476|
|Audit-Related Fees (2)|—|—|
|Tax Fees (3)|—|—|
|All Other Fees (4)|$3|$3|
|Total Fees|$3,750|$4,479|
 Fees Paid to the Independent Registered Public Accounting Firm The following table presents fees for professional audit services and other services rendered to our company by KPMG for our fiscal years ended December 31, 2017 and 2018. (1) Audit Fees consist of professional services rendered in connection with the audit of our annual consolidated financial statements, including audited financial statements presented in our Annual Report on Form 10-K for the fiscal years ended December 31, 2017 and 2018 and services that are normally provided by the independent registered public accountants in connection with statutory and regulatory filings or engagements for those fiscal years. (2) Audit-Related Fees consist of fees for professional services for assurance and related
services that are reasonably related to the performance of the audit or review of our consolidated financial statements and are not reported under “Audit Fees.” These services could include accounting consultations concerning financial accounting and reporting standards, due diligence procedures in connection with acquisition and procedures related to other attestation services. (3) Tax Fees consist of fees for professional services for tax compliance, tax advice and tax planning. These services include consultation on tax matters and assistance regarding federal, state and international tax compliance. (4) All Other Fees consist of license fees for the use of accounting research software.

Answer: 2.0


Question: If Short-term restricted cash in 2019 was 845 thousands, what would be the average for 2018 and 2019? (in thousand)

def solution():
    # Define variables name and value
    short_term_restricted_cash_2019 = 845
    short_term_restricted_cash_2018 = 645

    # Do math calculation to get the answer
    answer = (short_term_restricted_cash_2019 + short_term_restricted_cash_2018) / 2

    return answer

||December 31, 2019|December 31, 2018|
|(in thousands)|||
|Cash and cash equivalents|$92,708|$73,142|
|Short-term restricted cash|349|645|
|Long-term restricted cash|60|404|
|Total cash, cash equivalents and restricted cash|$93,117|$74,191|
 7. Balance Sheet Details Cash, cash equivalents, and restricted cash consist of the following: As of December 31, 2019 and December 31, 2018, cash and cash equivalents included $20.4 million and $0 of money market funds, respectively. As of December 31, 2019 and 2018, the Company has restricted cash of $0.4 million and $1.0 million, respectively. The cash is restricted in connection with guarantees for certain import duties and office leases.

Answer: 745.0


Question: If Adjusted EBITDA in 2019 was 400,000 thousands, what was the increase / (decrease)? (in thousand)

def solution():
    # Define variables name and value
    adjusted_ebitda_2019 = 400000
    adjusted_ebitda_2018 = 369200

    # Do math calculation to get the answer
    answer = adjusted_ebitda_2019 - adjusted_ebitda_2018

    return answer

|Years ended August 31,|2019 (1)|2018 (2)|Change|Change in constant currency (3)|Foreign exchange impact (3)|
|(in thousands of dollars, except percentages)|$|$|%|%|$|
|Revenue|1,036,853|847,372|22.4|17.9|37,433|
|Operating expenses|571,208|478,172|19.5|15.2|20,522|
|Adjusted EBITDA|465,645|369,200|26.1|21.5|16,911|
|Adjusted EBITDA Margin|44.9%|43.6%||||
|Acquisitions of property, plant and equipment|192,605|212,580|(9.4)|(12.4)|6,332|
|Capital intensity|18.6%|25.1%||||
 OPERATING AND FINANCIAL RESULTS (1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN. (2) Fiscal 2018 was restated to comply with IFRS 15 and to reflect a change in accounting policy. For further details, please consult the "Accounting policies" section. (3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN. REVENUE Fiscal 2019 revenue increased by 22.4% (17.9% in constant currency). In local currency, revenue amounted to US$782.3 million compared to US$662.3 million for fiscal 2018. The increase resulted mainly from: • the impact of the MetroCast acquisition completed on January 4, 2018 which was included in revenue for only an eight-month period in the prior year; • rate increases; • continued growth in Internet service customers; and • the FiberLight acquisition completed in the first quarter of fiscal 2019; partly offset by • a decrease in video service customers. Excluding the MetroCast and FiberLight acquisitions, revenue in constant currency increased by 5.2% for fiscal 2019. OPERATING EXPENSES Fiscal 2019 operating expenses increased by 19.5% (15.2% in constant currency) mainly as a result of: • the impact of the MetroCast acquisition which was included in operating expenses for only an eight-month period in the prior year; • programming rate increases; • the FiberLight acquisition completed in the first quarter of fiscal 2019; • higher compensation expenses due to higher headcount to support growth; and • higher marketing initiatives to drive primary service units growth; partly offset by • the prior year's non-recurring costs of $3.1 million (US$2.5 million) related to hurricane Irma. ADJUSTED EBITDA Fiscal 2019 adjusted EBITDA increased by 26.1% (21.5% in constant currency). In local currency, adjusted EBITDA amounted to US$351.3 million compared to US$288.4 million for fiscal 2018. The increase was mainly due to the impact of the MetroCast and FiberLight acquisitions combined with strong organic growth. Excluding the MetroCast and FiberLight acquisitions and the prior year's non-recurring costs of $3.1 million ($US2.5 million) related to hurricane Irma, adjusted EBITDA in constant currency increased by 5.7% for fiscal 2019. CAPITAL INTENSITY AND ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT Fiscal 2019 acquisitions of property, plant and equipment decreased by 9.4% (12.4% in constant currency) mainly due to: • the acquisition of several dark fibres throughout south Florida from FiberLight, LLC for a consideration of $21.2 million (US$16.8 million) during the second quarter of fiscal 2018; partly offset by • additional capital expenditures related to the impact of the MetroCast acquisition; and • additional capital expenditures related to the expansion in Florida. Fiscal 2019 capital intensity reached 18.6% compared to 25.1% for fiscal 2018 mainly as a result of lower capital expenditures combined with revenue growth.

Answer: 30800.0


Question: What would be the percentage change in net total inventory between 2018 and 2019 if net total inventory in 2019 was $120,000 thousand instead? (in percent)

def solution():
    # Define variables name and value
    net_total_inventory_2019_modified = 120000
    net_total_inventory_2018 = 99848

    # Do math calculation to get the answer
    answer = (net_total_inventory_2019_modified - net_total_inventory_2018) / net_total_inventory_2018 * 100

    return answer

|(In thousands)|2019|2018|
|Raw materials|$36,987|$45,333|
|Work in process|1,085|1,638|
|Finished goods|60,233|52,877|
|Total Inventory, net|$98,305|$99,848|
 Note 7 – Inventory As of December 31, 2019 and 2018, inventory was comprised of the following: Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on estimated reserve percentages, which consider historical usage, known trends, inventory age and market conditions. As of December 31, 2019 and 2018, our inventory reserve was $34.1 million and $30.0 million, respectively.

Answer: 20.18267767005849


Question: If effective tax rate in 2017 was -30.0%, what would be the increase / (decrease) in the effective tax rate from 2017 to 2018? (in percent)

def solution():
    # Define variables name and value
    effective_tax_rate_2017 = -30.0
    effective_tax_rate_2018 = -28.0

    # Do math calculation to get the answer
    answer = effective_tax_rate_2018 - effective_tax_rate_2017

    return answer

||Year ended March 31,||(Unfavorable) favorable||
|(Dollars in thousands)|2018|2017|$|%|
|Income tax (benefit) expense|$ (3,251)|$ 236|$ 3,487|nm|
|Effective tax rate|(28.0)%|(2.1)%|||
 Income Taxes nm - not meaningful For fiscal 2018, the effective tax rate was different than the statutory rate due primarily to the impact of the Tax Act reform. The Company recorded a benefit of approximately $3.3 million resulting from the effect of a reduction in the deferred rate and the ability to offset indefinite lived deferred tax liabilities with certain deferred tax assets, recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, certain foreign and state tax effects including a benefit of $0.4 million related to a settlement with the California Franchise Tax Board and other U.S. permanent book to tax differences. At March 31, 2018, we had $198.7 million of a federal net operating loss carryforward that expires, if unused, in fiscal years 2031 to 2038. For fiscal 2017, the effective tax rate was different than the statutory rate due primarily to the recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance, state taxes and other U.S. permanent book to tax differences. Although the timing and outcome of tax settlements are uncertain, it is reasonably possible that during the next 12 months a reduction in unrecognized tax benefits may occur in the range of zero to $0.1 million of tax and zero to $0.2 million of interest based on the outcome of tax examinations and as a result of the expiration of various statutes of limitations. We are routinely audited; due to the ongoing nature of current examinations in multiple jurisdictions, other changes could occur in the amount of gross unrecognized tax benefits during the next 12 months which cannot be estimated at this time. Because of our losses in prior periods, we have recorded a valuation allowance offsetting substantially all of our deferred tax assets. The ultimate realization of deferred tax assets generated prior to Tax Act reform depends on the generation of future taxable income during the periods in which those temporary differences are deductible. Because of our losses in prior periods, management believes that it is more-likely-than-not that we will not realize the benefits of these deductible differences.

Answer: 2.0


Question: If publishing generated $200 (in millions) in 2019 instead, what would be its percentage change? (in percent)

def solution():
    # Define variables name and value
    publishing_2019 = 200
    publishing_2018 = 115.2

    # Do math calculation to get the answer
    percentage_change = ((publishing_2019 - publishing_2018) / publishing_2018) * 100

    return percentage_change

|(dollars in millions)|2019|2018|2017|% Change 2019 - 2018|
|Digital Media|$7,208.3|$5,857.7|$4,480.8|23%|
|Digital Experience|2,670.7|1,949.3|1,552.5|37%|
|Publishing|115.5|115.2|100.6|*|
|Total subscription revenue|$9,994.5|$7,922.2|$6,133.9|26%|
 Subscription Revenue by Segment Our subscription revenue is comprised primarily of fees we charge for our subscription and hosted service offerings including Creative Cloud and certain of our Digital Experience and Document Cloud services. We recognize subscription revenue ratably over the term of agreements with our customers, beginning with commencement of service. We have the following reportable segments: Digital Media, Digital Experience and Publishing. Subscription revenue by reportable segment for fiscal 2019, 2018 and 2017 is as follows: (*) Percentage is less than 1% Our product revenue is primarily comprised of revenue from distinct on-premise software licenses recognized at a point in time and certain of our OEM and royalty agreements. Our services and support revenue is comprised of consulting, training and maintenance and support, primarily related to the licensing of our enterprise offerings and the sale of our hosted Digital Experience services. Our support revenue also includes technical support and developer support to partners and developer organizations related to our desktop products. Our maintenance and support offerings, which entitle customers to receive desktop product upgrades and enhancements or technical support, depending on the offering, are generally recognized ratably over the term of the arrangement.

Answer: 73.6111111111111


Question: If the orders in 2019 increased to 23,000, what is the increase / (decrease) in the orders for Asia and Australia from 2018 to 2019? (in million)

def solution():
    # Define variables name and value
    orders_2019 = 23000
    orders_2018 = 18147

    # Do math calculation to get the answer
    answer = orders_2019 - orders_2018

    return answer

|||Fiscal year||% Change|
|(in millions of €)|2019|2018|Actual|Comp.|
|Europe, C. I. S., Africa, Middle East|44,360|42,782|4%|4%|
|therein: Germany|12,282|11,729|5%|4 %|
|Americas|23,796|22,115|8%|3%|
|therein: U. S.|17,993|16,012|12%|6%|
|Asia, Australia|18,693|18,147|3%|2%|
|therein: China|8,405|8,102|4%|3%|
|Siemens|86,849|83,044|5 %|3 %|
|therein: emerging markets1|27,607|28,272|(2) %|(2) %|
 1 As defined by the International Monetary Fund. Revenue related to external customers went up moderately yearover- year on growth in nearly all industrial businesses. SGRE and Siemens Healthineers posted the highest growth rates, while revenue at Gas and Power declined moderately in a difficult market environment. The revenue decline in emerging markets was due mainly to lower revenue in Egypt, where in fiscal 2018 Gas and Power recorded sharply higher revenue from large orders. Revenue in Europe, C. I. S., Africa, Middle East increased moderately on growth in a majority of industrial businesses, driven by substantial growth at SGRE. Gas and Power posted a clear decline in a difficult market environment. In Germany, revenue was up moderately with significant growth in Mobility and Gas and Power, partly offset by a decline in SGRE. In the Americas, revenue came in clearly higher year-over-year, benefiting from positive currency translation effects. Siemens Healthineers, Smart Infrastructure and Gas and Power recorded the largest increases, while SGRE posted clearly lower revenue in the region. In the U. S., all industrial businesses posted higher revenues year-over-year, with SGRE and Smart Infrastructure recording the strongest growth rates. Revenue in Asia, Australia rose moderately year-over-year on growth in the majority of industrial businesses, led by Siemens Healthineers and Digital Industries. Gas and Power and SGRE posted lower revenue year-over-year. In China, revenue was also
up in the majority of industrial businesses, led by Siemens Healthineers. In contrast, SGRE posted substantially lower revenue year-over-year in that country.

Answer: 4853.0


Question: If the Income tax benefit (expense) in December 31, 2019 increased to 201 million, what is the revised increase / (decrease) from 2018 to 2019? (in million)

def solution():
    # Define variables name and value
    income_tax_benefit_2019 = 201
    income_tax_benefit_2018 = 96

    # Do math calculation to get the answer
    answer = income_tax_benefit_2019 - income_tax_benefit_2018

    return answer

||Year ended December 31, 2019|Year ended December 31, 2018|Year ended December 31, 2017|
|Income tax benefit (expense) computed at statutory rate|(297)|(353)|(238)|
|Non-deductible and non-taxable permanent differences, net|4|45|17|
|Income (loss) on equity-method investments|—|—|—|
|Valuation allowance adjustments|2|141|92|
|Effect on deferred taxes of changes in enacted tax rates|14|(62)|(70)|
|Current year credits|50|43|40|
|Other tax and credits|(51)|(20)|(36)|
|Benefits from tax holidays|129|135|114|
|Net impact of changes to uncertain tax positions|(5)|(16)|(43)|
|Earnings of subsidiaries taxed at different rates|(2)|(9)|(19)|
|Income tax benefit (expense)|(156)|(96)|(143)|
 The tax holidays represent a tax exemption period aimed to attract foreign technological investment in certain tax jurisdictions. The effect of the tax benefits, from tax holidays for countries which are profitable, on basic earnings per share was $0.14, $0.15 and $0.13 for the years ended December 31, 2019, 2018, and 2017, respectively. These agreements are present in various countries and include programs that reduce up to and including 100% of taxes in years affected by the agreements. The Company’s tax holidays expire at various dates through the year ending December 31, 2028. In certain countries, tax holidays can be renewed depending on the Company still meeting certain conditions at the date of expiration of the current tax holidays. In May 2019, Switzerland voted a tax reform which cancelled all favourable tax regimes and introduced a single tax rate for all companies, which triggered the revaluation of all deferred tax assets and liabilities. Enactment of this law occurred in third quarter of 2019, which resulted in a tax benefit of $20 million. The remeasurement of deferred taxes was reconciled in the fourth quarter of 2019 to include the current year activity, which did not have a material impact on the net remeasurement.

Answer: 105.0