DocAILab/RAG4FIN
07
1[
2 {
3 "key_content": {
4 "reference": [
5 "MGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\n\n\n \nYear Ended December 31,\n \n \n \n2020\n \n \n2019\n \n \n2018\n \nRevenues\n\n\n\n\n\n\nCasino\n$\n2,871,720\n$\n6,517,759\n$\n5,753,150\nRooms\n\n830,382\n\n2,322,579\n\n2,212,573\nFoodandbeverage\n\n696,040\n\n2,145,247\n\n1,959,021\nEntertainment,retailandother\n\n518,991\n\n1,477,200\n\n1,412,860\nReimbursedcosts\n\n244,949\n\n436,887\n\n425,492\n\n\n5,162,082\n\n12,899,672\n\n11,763,096\nExpenses\n\n\n\n\n\n\nCasino\n\n1,701,783\n\n3,623,899\n\n3,199,775\nRooms\n\n419,156\n\n829,677\n\n791,761\nFoodandbeverage\n\n674,118\n\n1,661,626\n\n1,501,868\nEntertainment,retailandother\n\n412,705\n\n1,051,400\n\n999,979\nReimbursedcosts\n\n244,949\n\n436,887\n\n425,492\nGeneralandadministrative\n\n2,122,333\n\n2,101,217\n\n1,764,638\nCorporateexpense\n\n460,148\n\n464,642\n\n419,204\nPreopeningandstart-upexpenses\n\n84\n\n7,175\n\n151,392\nPropertytransactions,net\n\n93,567\n\n275,802\n\n9,147\nGainonREITtransactions,net\n\n(1,491,945)\n\n(2,677,996)\n\n\nDepreciationandamortization\n\n1,210,556\n\n1,304,649\n\n1,178,044\n\n\n5,847,454\n\n9,078,978\n\n10,441,300\nIncome from unconsolidated affiliates\n\n42,938\n\n119,521\n\n147,690\nOperating income (loss)\n\n(642,434)\n\n3,940,215\n\n1,469,486\nNon-operating income (expense)\n\n\n\n\n\n\nInterestexpense,netofamountscapitalized\n\n(676,380)\n\n(847,932)\n\n(769,513)\nNon-operatingitemsfromunconsolidatedaffiliates\n\n(103,304)\n\n(62,296)\n\n(47,827)\nOther,net\n\n(89,361)\n\n(183,262)\n\n(18,140)\n\n\n(869,045)\n\n(1,093,490)\n\n(835,480)\nIncome (loss) before income taxes\n\n(1,511,479)\n\n2,846,725\n\n634,006\nBenefit(provision)forincometaxes\n\n191,572\n\n(632,345)\n\n(50,112)\nNet income (loss)\n\n(1,319,907)\n\n2,214,380\n\n583,894\nLess:Net(income)lossattributabletononcontrollinginterests\n\n287,183\n\n(165,234)\n\n(117,122)\nNet income (loss) attributable to MGM Resorts International\n$\n(1,032,724)\n$\n2,049,146\n$\n466,772\n \n\n\n\n\n\n\nEarnings (loss) per share\n\n\n\n\n\n\nBasic\n$\n(2.02)\n$\n3.90\n$\n0.82\nDiluted\n$\n(2.02)\n$\n3.88\n$\n0.81\nWeighted average common shares outstanding\n\n\n\n\n\n\nBasic\n\n494,152\n\n524,173\n\n544,253\nDiluted\n\n494,152\n\n527,645\n\n549,536\n\n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n63",
6 "\nMGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands)\n\n\n \nYear Ended December 31,\n \n \n \n2020\n \n \n2019\n \n \n2018\n \nCash flows from operating activities\n \n\n \n\n \n\n\nNetincome(loss)\n\n$\n(1,319,907)\n$\n2,214,380\n$\n583,894\nAdjustmentstoreconcilenetincome(loss)tonetcashprovidedby(usedin)\noperatingactivities:\n\n\n\n\n\n\n\nDepreciationandamortization\n\n\n1,210,556\n\n1,304,649\n\n1,178,044\nAmortizationofdebtdiscounts,premiumsandissuancecosts\n\n\n34,363\n\n38,972\n\n41,102\nLossonearlyretirementofdebt\n\n\n126,462\n\n198,151\n\n3,619\nProvisionforcreditlosses\n\n\n71,422\n\n39,270\n\n39,762\nStock-basedcompensation\n\n\n106,956\n\n88,838\n\n70,177\nPropertytransactions,net\n\n\n93,567\n\n275,802\n\n9,147\nGainonREITtransactions,net\n\n\n(1,491,945)\n\n(2,677,996)\n\n\nNoncashleaseexpense\n\n\n183,399\n\n71,784\n\n\nLoss(income)fromunconsolidatedaffiliates\n\n\n60,366\n\n(57,225)\n\n(96,542)\nDistributionsfromunconsolidatedaffiliates\n\n\n86,584\n\n299\n\n11,563\nDeferredincometaxes\n\n\n18,347\n\n595,046\n\n46,720\nChangeinoperatingassetsandliabilities:\n\n\n\n\n\n\n\nAccountsreceivable\n\n\n960,099\n\n(726,610)\n\n(149,554)\nInventories\n\n\n14,705\n\n6,522\n\n(7,860)\nIncometaxesreceivableandpayable,net\n\n\n(216,250)\n\n1,259\n\n14,120\nPrepaidexpensesandother\n\n\n(37)\n\n7,567\n\n(8,656)\nAccountspayableandaccruedliabilities\n\n\n(1,382,980)\n\n465,602\n\n21,508\nOther\n\n\n(48,750)\n\n(35,909)\n\n(34,505)\nNetcashprovidedby(usedin)operatingactivities\n\n\n(1,493,043)\n\n1,810,401\n\n1,722,539\nCash flows from investing activities\n \n\n\n\n\n\n\nCapitalexpenditures,netofconstructionpayable\n\n\n(270,579)\n\n(739,006)\n\n(1,486,843)\nDispositionsofpropertyandequipment\n\n\n6,136\n\n2,578\n\n25,612\nProceedsfromMandalayBayandMGMGrandLasVegastransaction\n\n\n2,455,839\n\n\n\n\nProceedsfromBellagiotransaction\n\n\n\n\n4,151,499\n\n\nProceedsfromsaleofCircusCircusLasVegasandadjacentland\n\n\n\n\n652,333\n\n\nProceedsfromsaleofbusinessunitsandinvestmentinunconsolidatedaffiliate\n\n\n\n\n\n\n163,616\nAcquisitionofNorthfield,netofcashacquired\n\n\n\n\n\n\n(1,034,534)\nAcquisitionofEmpireCityCasino,netofcashacquired\n\n\n\n\n(535,681)\n\n\nInvestmentsinunconsolidatedaffiliates\n\n\n(96,925)\n\n(81,877)\n\n(56,295)\nDistributionsfromunconsolidatedaffiliates\n\n\n63,960\n\n100,700\n\n322,631\nOther\n\n\n873\n\n(31,112)\n\n(17,208)\nNetcashprovidedby(usedin)investingactivities\n\n\n2,159,304\n\n3,519,434\n\n(2,083,021)\nCash flows from financing activities\n \n\n\n\n\n\n\nNetborrowings(repayments)underbankcreditfacilitiesmaturitiesof\n90daysorless\n\n\n(1,595,089)\n\n(3,634,049)\n\n1,242,259\nIssuanceoflong-termdebt\n\n\n3,550,000\n\n3,250,000\n\n1,000,000\nRetirementofseniornotes\n\n\n(846,815)\n\n(3,764,167)\n\n(2,265)\nDebtissuancecosts\n\n\n(62,348)\n\n(63,391)\n\n(76,519)\nProceedsfromissuanceofbridgeloanfacility\n\n\n1,304,625\n\n\n\n\nIssuanceofMGMGrowthPropertiesClassAshares,net\n\n\n524,704\n\n1,250,006\n\n\nDividendspaidtocommonshareholders\n\n\n(77,606)\n\n(271,288)\n\n(260,592)\nDistributionstononcontrollinginterestowners\n\n\n(286,385)\n\n(223,303)\n\n(184,932)\nPurchasesofcommonstock\n\n\n(353,720)\n\n(1,031,534)\n\n(1,283,333)\nOther\n\n\n(53,939)\n\n(41,868)\n\n(45,384)\nNetcashprovidedby(usedin)financingactivities\n\n\n2,103,427\n\n(4,529,594)\n\n389,234\nEffect of exchange rate on cash\n\n\n2,345\n\n2,601\n\n(1,985)\nCash and cash equivalents\n \n\n\n\n\n\n\nNetincreasefortheperiod\n\n\n2,772,033\n\n802,842\n\n26,767\nBalance,beginningofperiod\n\n\n2,329,604\n\n1,526,762\n\n1,499,995\nBalance,endofperiod\n\n$\n5,101,637\n$\n2,329,604\n$\n1,526,762\nSupplemental cash flow disclosures\n \n\n\n\n\n\n\nInterestpaid,netofamountscapitalized\n\n$\n639,718\n$\n826,970\n$\n723,609\nFederal,stateandforeignincometaxespaid(refundsreceived),net\n\n\n8,543\n\n28,493\n\n(10,100)\nNon-cash investing and financing activities\n \n\n\n\n\n\n\nNotereceivablerelatedtosaleofCircusCircusLasVegasandadjacentland\n\n$\n\n$\n133,689\n$\n\nInvestmentinBellagioBREITVenture\n\n\n\n\n62,133\n\n\nInvestmentinMGPBREITVenture\n\n\n802,000\n\n\n\n\nMGPBREITVentureassumptionofbridgeloanfacility\n\n\n1,304,625\n\n\n\n\n\n\nThe accompanying notes are an integral part of these consolidated financial statements.\n65"
7 ],
8 "reference_idx": [
9 35979,
10 35981
11 ],
12 "question": "What is the FY2018 - FY2020 3 year average of capex as a % of revenue for MGM Resorts? Answer in units of percents and round to one decimal place. Please utilize information provided primarily within the statement of cash flows and the statement of income.",
13 "answer": "7.9%"
14 },
15 "other_info": {
16 "financebench_id": "financebench_id_03849",
17 "company": "MGM Resorts",
18 "doc_name": "MGMRESORTS_2020_10K",
19 "question_type": "metrics-generated",
20 "question_reasoning": "Numerical reasoning",
21 "domain_question_num": null,
22 "question": "What is the FY2018 - FY2020 3 year average of capex as a % of revenue for MGM Resorts? Answer in units of percents and round to one decimal place. Please utilize information provided primarily within the statement of cash flows and the statement of income.",
23 "answer": "7.9%",
24 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Capital expenditures. This metric was located in the 10K as a single line item named: Capital expenditures, net of construction payable.\n\nMetric 2: Total revenue. This metric was located in the 10K as a single line item named: [blank line item referring to total revenue].",
25 "dataset_subset_label": "OPEN_SOURCE",
26 "evidence": [
27 {
28 "evidence_text": "MGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\n\n\n \nYear Ended December 31,\n \n \n \n2020\n \n \n2019\n \n \n2018\n \nRevenues\n\n\n\n\n\n\nCasino\n$\n2,871,720\n$\n6,517,759\n$\n5,753,150\nRooms\n\n830,382\n\n2,322,579\n\n2,212,573\nFoodandbeverage\n\n696,040\n\n2,145,247\n\n1,959,021\nEntertainment,retailandother\n\n518,991\n\n1,477,200\n\n1,412,860\nReimbursedcosts\n\n244,949\n\n436,887\n\n425,492\n\n\n5,162,082\n\n12,899,672\n\n11,763,096\nExpenses\n\n\n\n\n\n\nCasino\n\n1,701,783\n\n3,623,899\n\n3,199,775\nRooms\n\n419,156\n\n829,677\n\n791,761\nFoodandbeverage\n\n674,118\n\n1,661,626\n\n1,501,868\nEntertainment,retailandother\n\n412,705\n\n1,051,400\n\n999,979\nReimbursedcosts\n\n244,949\n\n436,887\n\n425,492\nGeneralandadministrative\n\n2,122,333\n\n2,101,217\n\n1,764,638\nCorporateexpense\n\n460,148\n\n464,642\n\n419,204\nPreopeningandstart-upexpenses\n\n84\n\n7,175\n\n151,392\nPropertytransactions,net\n\n93,567\n\n275,802\n\n9,147\nGainonREITtransactions,net\n\n(1,491,945)\n\n(2,677,996)\n\n\nDepreciationandamortization\n\n1,210,556\n\n1,304,649\n\n1,178,044\n\n\n5,847,454\n\n9,078,978\n\n10,441,300\nIncome from unconsolidated affiliates\n\n42,938\n\n119,521\n\n147,690\nOperating income (loss)\n\n(642,434)\n\n3,940,215\n\n1,469,486\nNon-operating income (expense)\n\n\n\n\n\n\nInterestexpense,netofamountscapitalized\n\n(676,380)\n\n(847,932)\n\n(769,513)\nNon-operatingitemsfromunconsolidatedaffiliates\n\n(103,304)\n\n(62,296)\n\n(47,827)\nOther,net\n\n(89,361)\n\n(183,262)\n\n(18,140)\n\n\n(869,045)\n\n(1,093,490)\n\n(835,480)\nIncome (loss) before income taxes\n\n(1,511,479)\n\n2,846,725\n\n634,006\nBenefit(provision)forincometaxes\n\n191,572\n\n(632,345)\n\n(50,112)\nNet income (loss)\n\n(1,319,907)\n\n2,214,380\n\n583,894\nLess:Net(income)lossattributabletononcontrollinginterests\n\n287,183\n\n(165,234)\n\n(117,122)\nNet income (loss) attributable to MGM Resorts International\n$\n(1,032,724)\n$\n2,049,146\n$\n466,772\n \n\n\n\n\n\n\nEarnings (loss) per share\n\n\n\n\n\n\nBasic\n$\n(2.02)\n$\n3.90\n$\n0.82\nDiluted\n$\n(2.02)\n$\n3.88\n$\n0.81\nWeighted average common shares outstanding\n\n\n\n\n\n\nBasic\n\n494,152\n\n524,173\n\n544,253\nDiluted\n\n494,152\n\n527,645\n\n549,536\n\n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n63",
29 "doc_name": "MGMRESORTS_2020_10K",
30 "evidence_page_num": 64,
31 "evidence_text_full_page": "\nMGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(In thousands, except per share data)\n\n\n \nYear Ended December 31,\n \n \n \n2020\n \n \n2019\n \n \n2018\n \nRevenues\n\n\n\n\n\n\nCasino\n$\n2,871,720\n$\n6,517,759\n$\n5,753,150\nRooms\n\n830,382\n\n2,322,579\n\n2,212,573\nFoodandbeverage\n\n696,040\n\n2,145,247\n\n1,959,021\nEntertainment,retailandother\n\n518,991\n\n1,477,200\n\n1,412,860\nReimbursedcosts\n\n244,949\n\n436,887\n\n425,492\n\n\n5,162,082\n\n12,899,672\n\n11,763,096\nExpenses\n\n\n\n\n\n\nCasino\n\n1,701,783\n\n3,623,899\n\n3,199,775\nRooms\n\n419,156\n\n829,677\n\n791,761\nFoodandbeverage\n\n674,118\n\n1,661,626\n\n1,501,868\nEntertainment,retailandother\n\n412,705\n\n1,051,400\n\n999,979\nReimbursedcosts\n\n244,949\n\n436,887\n\n425,492\nGeneralandadministrative\n\n2,122,333\n\n2,101,217\n\n1,764,638\nCorporateexpense\n\n460,148\n\n464,642\n\n419,204\nPreopeningandstart-upexpenses\n\n84\n\n7,175\n\n151,392\nPropertytransactions,net\n\n93,567\n\n275,802\n\n9,147\nGainonREITtransactions,net\n\n(1,491,945)\n\n(2,677,996)\n\n\nDepreciationandamortization\n\n1,210,556\n\n1,304,649\n\n1,178,044\n\n\n5,847,454\n\n9,078,978\n\n10,441,300\nIncome from unconsolidated affiliates\n\n42,938\n\n119,521\n\n147,690\nOperating income (loss)\n\n(642,434)\n\n3,940,215\n\n1,469,486\nNon-operating income (expense)\n\n\n\n\n\n\nInterestexpense,netofamountscapitalized\n\n(676,380)\n\n(847,932)\n\n(769,513)\nNon-operatingitemsfromunconsolidatedaffiliates\n\n(103,304)\n\n(62,296)\n\n(47,827)\nOther,net\n\n(89,361)\n\n(183,262)\n\n(18,140)\n\n\n(869,045)\n\n(1,093,490)\n\n(835,480)\nIncome (loss) before income taxes\n\n(1,511,479)\n\n2,846,725\n\n634,006\nBenefit(provision)forincometaxes\n\n191,572\n\n(632,345)\n\n(50,112)\nNet income (loss)\n\n(1,319,907)\n\n2,214,380\n\n583,894\nLess:Net(income)lossattributabletononcontrollinginterests\n\n287,183\n\n(165,234)\n\n(117,122)\nNet income (loss) attributable to MGM Resorts International\n$\n(1,032,724)\n$\n2,049,146\n$\n466,772\n \n\n\n\n\n\n\nEarnings (loss) per share\n\n\n\n\n\n\nBasic\n$\n(2.02)\n$\n3.90\n$\n0.82\nDiluted\n$\n(2.02)\n$\n3.88\n$\n0.81\nWeighted average common shares outstanding\n\n\n\n\n\n\nBasic\n\n494,152\n\n524,173\n\n544,253\nDiluted\n\n494,152\n\n527,645\n\n549,536\n\n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n63\n"
32 },
33 {
34 "evidence_text": "\nMGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands)\n\n\n \nYear Ended December 31,\n \n \n \n2020\n \n \n2019\n \n \n2018\n \nCash flows from operating activities\n \n\n \n\n \n\n\nNetincome(loss)\n\n$\n(1,319,907)\n$\n2,214,380\n$\n583,894\nAdjustmentstoreconcilenetincome(loss)tonetcashprovidedby(usedin)\noperatingactivities:\n\n\n\n\n\n\n\nDepreciationandamortization\n\n\n1,210,556\n\n1,304,649\n\n1,178,044\nAmortizationofdebtdiscounts,premiumsandissuancecosts\n\n\n34,363\n\n38,972\n\n41,102\nLossonearlyretirementofdebt\n\n\n126,462\n\n198,151\n\n3,619\nProvisionforcreditlosses\n\n\n71,422\n\n39,270\n\n39,762\nStock-basedcompensation\n\n\n106,956\n\n88,838\n\n70,177\nPropertytransactions,net\n\n\n93,567\n\n275,802\n\n9,147\nGainonREITtransactions,net\n\n\n(1,491,945)\n\n(2,677,996)\n\n\nNoncashleaseexpense\n\n\n183,399\n\n71,784\n\n\nLoss(income)fromunconsolidatedaffiliates\n\n\n60,366\n\n(57,225)\n\n(96,542)\nDistributionsfromunconsolidatedaffiliates\n\n\n86,584\n\n299\n\n11,563\nDeferredincometaxes\n\n\n18,347\n\n595,046\n\n46,720\nChangeinoperatingassetsandliabilities:\n\n\n\n\n\n\n\nAccountsreceivable\n\n\n960,099\n\n(726,610)\n\n(149,554)\nInventories\n\n\n14,705\n\n6,522\n\n(7,860)\nIncometaxesreceivableandpayable,net\n\n\n(216,250)\n\n1,259\n\n14,120\nPrepaidexpensesandother\n\n\n(37)\n\n7,567\n\n(8,656)\nAccountspayableandaccruedliabilities\n\n\n(1,382,980)\n\n465,602\n\n21,508\nOther\n\n\n(48,750)\n\n(35,909)\n\n(34,505)\nNetcashprovidedby(usedin)operatingactivities\n\n\n(1,493,043)\n\n1,810,401\n\n1,722,539\nCash flows from investing activities\n \n\n\n\n\n\n\nCapitalexpenditures,netofconstructionpayable\n\n\n(270,579)\n\n(739,006)\n\n(1,486,843)\nDispositionsofpropertyandequipment\n\n\n6,136\n\n2,578\n\n25,612\nProceedsfromMandalayBayandMGMGrandLasVegastransaction\n\n\n2,455,839\n\n\n\n\nProceedsfromBellagiotransaction\n\n\n\n\n4,151,499\n\n\nProceedsfromsaleofCircusCircusLasVegasandadjacentland\n\n\n\n\n652,333\n\n\nProceedsfromsaleofbusinessunitsandinvestmentinunconsolidatedaffiliate\n\n\n\n\n\n\n163,616\nAcquisitionofNorthfield,netofcashacquired\n\n\n\n\n\n\n(1,034,534)\nAcquisitionofEmpireCityCasino,netofcashacquired\n\n\n\n\n(535,681)\n\n\nInvestmentsinunconsolidatedaffiliates\n\n\n(96,925)\n\n(81,877)\n\n(56,295)\nDistributionsfromunconsolidatedaffiliates\n\n\n63,960\n\n100,700\n\n322,631\nOther\n\n\n873\n\n(31,112)\n\n(17,208)\nNetcashprovidedby(usedin)investingactivities\n\n\n2,159,304\n\n3,519,434\n\n(2,083,021)\nCash flows from financing activities\n \n\n\n\n\n\n\nNetborrowings(repayments)underbankcreditfacilitiesmaturitiesof\n90daysorless\n\n\n(1,595,089)\n\n(3,634,049)\n\n1,242,259\nIssuanceoflong-termdebt\n\n\n3,550,000\n\n3,250,000\n\n1,000,000\nRetirementofseniornotes\n\n\n(846,815)\n\n(3,764,167)\n\n(2,265)\nDebtissuancecosts\n\n\n(62,348)\n\n(63,391)\n\n(76,519)\nProceedsfromissuanceofbridgeloanfacility\n\n\n1,304,625\n\n\n\n\nIssuanceofMGMGrowthPropertiesClassAshares,net\n\n\n524,704\n\n1,250,006\n\n\nDividendspaidtocommonshareholders\n\n\n(77,606)\n\n(271,288)\n\n(260,592)\nDistributionstononcontrollinginterestowners\n\n\n(286,385)\n\n(223,303)\n\n(184,932)\nPurchasesofcommonstock\n\n\n(353,720)\n\n(1,031,534)\n\n(1,283,333)\nOther\n\n\n(53,939)\n\n(41,868)\n\n(45,384)\nNetcashprovidedby(usedin)financingactivities\n\n\n2,103,427\n\n(4,529,594)\n\n389,234\nEffect of exchange rate on cash\n\n\n2,345\n\n2,601\n\n(1,985)\nCash and cash equivalents\n \n\n\n\n\n\n\nNetincreasefortheperiod\n\n\n2,772,033\n\n802,842\n\n26,767\nBalance,beginningofperiod\n\n\n2,329,604\n\n1,526,762\n\n1,499,995\nBalance,endofperiod\n\n$\n5,101,637\n$\n2,329,604\n$\n1,526,762\nSupplemental cash flow disclosures\n \n\n\n\n\n\n\nInterestpaid,netofamountscapitalized\n\n$\n639,718\n$\n826,970\n$\n723,609\nFederal,stateandforeignincometaxespaid(refundsreceived),net\n\n\n8,543\n\n28,493\n\n(10,100)\nNon-cash investing and financing activities\n \n\n\n\n\n\n\nNotereceivablerelatedtosaleofCircusCircusLasVegasandadjacentland\n\n$\n\n$\n133,689\n$\n\nInvestmentinBellagioBREITVenture\n\n\n\n\n62,133\n\n\nInvestmentinMGPBREITVenture\n\n\n802,000\n\n\n\n\nMGPBREITVentureassumptionofbridgeloanfacility\n\n\n1,304,625\n\n\n\n\n\n\nThe accompanying notes are an integral part of these consolidated financial statements.\n65",
35 "doc_name": "MGMRESORTS_2020_10K",
36 "evidence_page_num": 66,
37 "evidence_text_full_page": "\nMGM RESORTS INTERNATIONAL AND SUBSIDIARIES\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(In thousands)\n\n\n \nYear Ended December 31,\n \n \n \n2020\n \n \n2019\n \n \n2018\n \nCash flows from operating activities\n \n\n \n\n \n\n\nNetincome(loss)\n\n$\n(1,319,907)\n$\n2,214,380\n$\n583,894\nAdjustmentstoreconcilenetincome(loss)tonetcashprovidedby(usedin)\noperatingactivities:\n\n\n\n\n\n\n\nDepreciationandamortization\n\n\n1,210,556\n\n1,304,649\n\n1,178,044\nAmortizationofdebtdiscounts,premiumsandissuancecosts\n\n\n34,363\n\n38,972\n\n41,102\nLossonearlyretirementofdebt\n\n\n126,462\n\n198,151\n\n3,619\nProvisionforcreditlosses\n\n\n71,422\n\n39,270\n\n39,762\nStock-basedcompensation\n\n\n106,956\n\n88,838\n\n70,177\nPropertytransactions,net\n\n\n93,567\n\n275,802\n\n9,147\nGainonREITtransactions,net\n\n\n(1,491,945)\n\n(2,677,996)\n\n\nNoncashleaseexpense\n\n\n183,399\n\n71,784\n\n\nLoss(income)fromunconsolidatedaffiliates\n\n\n60,366\n\n(57,225)\n\n(96,542)\nDistributionsfromunconsolidatedaffiliates\n\n\n86,584\n\n299\n\n11,563\nDeferredincometaxes\n\n\n18,347\n\n595,046\n\n46,720\nChangeinoperatingassetsandliabilities:\n\n\n\n\n\n\n\nAccountsreceivable\n\n\n960,099\n\n(726,610)\n\n(149,554)\nInventories\n\n\n14,705\n\n6,522\n\n(7,860)\nIncometaxesreceivableandpayable,net\n\n\n(216,250)\n\n1,259\n\n14,120\nPrepaidexpensesandother\n\n\n(37)\n\n7,567\n\n(8,656)\nAccountspayableandaccruedliabilities\n\n\n(1,382,980)\n\n465,602\n\n21,508\nOther\n\n\n(48,750)\n\n(35,909)\n\n(34,505)\nNetcashprovidedby(usedin)operatingactivities\n\n\n(1,493,043)\n\n1,810,401\n\n1,722,539\nCash flows from investing activities\n \n\n\n\n\n\n\nCapitalexpenditures,netofconstructionpayable\n\n\n(270,579)\n\n(739,006)\n\n(1,486,843)\nDispositionsofpropertyandequipment\n\n\n6,136\n\n2,578\n\n25,612\nProceedsfromMandalayBayandMGMGrandLasVegastransaction\n\n\n2,455,839\n\n\n\n\nProceedsfromBellagiotransaction\n\n\n\n\n4,151,499\n\n\nProceedsfromsaleofCircusCircusLasVegasandadjacentland\n\n\n\n\n652,333\n\n\nProceedsfromsaleofbusinessunitsandinvestmentinunconsolidatedaffiliate\n\n\n\n\n\n\n163,616\nAcquisitionofNorthfield,netofcashacquired\n\n\n\n\n\n\n(1,034,534)\nAcquisitionofEmpireCityCasino,netofcashacquired\n\n\n\n\n(535,681)\n\n\nInvestmentsinunconsolidatedaffiliates\n\n\n(96,925)\n\n(81,877)\n\n(56,295)\nDistributionsfromunconsolidatedaffiliates\n\n\n63,960\n\n100,700\n\n322,631\nOther\n\n\n873\n\n(31,112)\n\n(17,208)\nNetcashprovidedby(usedin)investingactivities\n\n\n2,159,304\n\n3,519,434\n\n(2,083,021)\nCash flows from financing activities\n \n\n\n\n\n\n\nNetborrowings(repayments)underbankcreditfacilitiesmaturitiesof\n90daysorless\n\n\n(1,595,089)\n\n(3,634,049)\n\n1,242,259\nIssuanceoflong-termdebt\n\n\n3,550,000\n\n3,250,000\n\n1,000,000\nRetirementofseniornotes\n\n\n(846,815)\n\n(3,764,167)\n\n(2,265)\nDebtissuancecosts\n\n\n(62,348)\n\n(63,391)\n\n(76,519)\nProceedsfromissuanceofbridgeloanfacility\n\n\n1,304,625\n\n\n\n\nIssuanceofMGMGrowthPropertiesClassAshares,net\n\n\n524,704\n\n1,250,006\n\n\nDividendspaidtocommonshareholders\n\n\n(77,606)\n\n(271,288)\n\n(260,592)\nDistributionstononcontrollinginterestowners\n\n\n(286,385)\n\n(223,303)\n\n(184,932)\nPurchasesofcommonstock\n\n\n(353,720)\n\n(1,031,534)\n\n(1,283,333)\nOther\n\n\n(53,939)\n\n(41,868)\n\n(45,384)\nNetcashprovidedby(usedin)financingactivities\n\n\n2,103,427\n\n(4,529,594)\n\n389,234\nEffect of exchange rate on cash\n\n\n2,345\n\n2,601\n\n(1,985)\nCash and cash equivalents\n \n\n\n\n\n\n\nNetincreasefortheperiod\n\n\n2,772,033\n\n802,842\n\n26,767\nBalance,beginningofperiod\n\n\n2,329,604\n\n1,526,762\n\n1,499,995\nBalance,endofperiod\n\n$\n5,101,637\n$\n2,329,604\n$\n1,526,762\nSupplemental cash flow disclosures\n \n\n\n\n\n\n\nInterestpaid,netofamountscapitalized\n\n$\n639,718\n$\n826,970\n$\n723,609\nFederal,stateandforeignincometaxespaid(refundsreceived),net\n\n\n8,543\n\n28,493\n\n(10,100)\nNon-cash investing and financing activities\n \n\n\n\n\n\n\nNotereceivablerelatedtosaleofCircusCircusLasVegasandadjacentland\n\n$\n\n$\n133,689\n$\n\nInvestmentinBellagioBREITVenture\n\n\n\n\n62,133\n\n\nInvestmentinMGPBREITVenture\n\n\n802,000\n\n\n\n\nMGPBREITVentureassumptionofbridgeloanfacility\n\n\n1,304,625\n\n\n\n\n\n\nThe accompanying notes are an integral part of these consolidated financial statements.\n65\n"
38 }
39 ]
40 }
41 },
42 {
43 "key_content": {
44 "reference": [
45 "52 \n \nConsolidated Statements of Cash Flows \nGENERAL MILLS, INC. AND SUBSIDIARIES \n(In Millions) \n \nFiscal Year \n \n2020 \n2019 \n2018 \nCash Flows - Operating Activities \n \n \n \n \nNet earnings, including earnings attributable to redeemable and noncontrolling interests $ \n2,210.8 $ \n1,786.2 $ \n2,163.0 \nAdjustments to reconcile net earnings to net cash provided by operating activities: \n \n \n \n \n \n \nDepreciation and amortization \n \n594.7 \n620.1 \n618.8 \nAfter-tax earnings from joint ventures \n \n(91.1) \n(72.0) \n(84.7)\nDistributions of earnings from joint ventures \n \n76.5 \n86.7 \n113.2 \nStock-based compensation \n \n94.9 \n84.9 \n77.0 \nDeferred income taxes \n \n(29.6) \n93.5 \n(504.3)\nPension and other postretirement benefit plan contributions \n \n(31.1) \n(28.8) \n(31.8)\nPension and other postretirement benefit plan costs \n \n(32.3) \n6.1 \n4.6 \nDivestitures loss \n \n- \n30.0 \n- \nRestructuring, impairment, and other exit costs \n \n43.6 \n235.7 \n126.0 \nChanges in current assets and liabilities, excluding the effects of acquisitions \n and divestitures \n \n793.9 \n(7.5) \n542.1 \nOther, net \n \n45.9 \n(27.9) \n(182.9)\nNet cash provided by operating activities \n \n3,676.2 \n2,807.0 \n2,841.0 \nCash Flows - Investing Activities \n \n \n \n \n \n \nPurchases of land, buildings, and equipment \n \n(460.8) \n(537.6) \n(622.7)\nAcquisition, net of cash acquired \n \n- \n- \n(8,035.8)\nInvestments in affiliates, net \n \n(48.0) \n0.1 \n(17.3)\nProceeds from disposal of land, buildings, and equipment \n \n1.7 \n14.3 \n1.4 \nProceeds from divestitures \n \n- \n26.4 \n- \nOther, net \n \n20.9 \n(59.7) \n(11.0)\nNet cash used by investing activities \n \n(486.2) \n(556.5) \n(8,685.4)\nCash Flows - Financing Activities \n \n \n \n \n \n \nChange in notes payable \n \n(1,158.6) \n(66.3) \n327.5 \nIssuance of long-term debt \n \n1,638.1 \n339.1 \n6,550.0 \nPayment of long-term debt \n \n(1,396.7) \n(1,493.8) \n(600.1)\nProceeds from common stock issued on exercised options \n \n263.4 \n241.4 \n99.3 \nProceeds from common stock issued \n \n- \n- \n969.9 \nPurchases of common stock for treasury \n \n(3.4) \n(1.1) \n(601.6)\nDividends paid \n \n(1,195.8) \n(1,181.7) \n(1,139.7)\nInvestments in redeemable interest \n \n- \n55.7 \n- \nDistributions to noncontrolling and redeemable interest holders \n \n(72.5) \n(38.5) \n(51.8)\nOther, net \n \n(16.0) \n(31.2) \n(108.0)\nNet cash (used) provided by financing activities \n \n(1,941.5) \n(2,176.4) \n5,445.5 \nEffect of exchange rate changes on cash and cash equivalents \n \n(20.7) \n(23.1) \n31.8 \nIncrease (decrease) in cash and cash equivalents \n \n1,227.8 \n \n51.0 \n \n(367.1)\nCash and cash equivalents - beginning of year \n \n450.0 \n399.0 \n766.1 \nCash and cash equivalents - end of year \n$ \n1,677.8 $ \n450.0 $ \n399.0 \nCash flow from changes in current assets and liabilities, excluding the effects of \n acquisitions and divestitures: \n \n \n \n \n \n \nReceivables \n$ \n37.9 $ \n(42.7) $ \n(122.7)\nInventories \n \n103.1 \n53.7 \n15.6 \nPrepaid expenses and other current assets \n \n94.2 \n(114.3) \n(10.7)\nAccounts payable \n \n392.5 \n162.4 \n575.3 \nOther current liabilities \n \n166.2 \n(66.6) \n84.6 \nChanges in current assets and liabilities \n$ \n793.9 $ \n(7.5) $ \n542.1 \nSee accompanying notes to consolidated financial statements."
46 ],
47 "reference_idx": [
48 25704
49 ],
50 "question": "According to the information provided in the statement of cash flows, what is the FY2020 free cash flow (FCF) for General Mills? FCF here is defined as: (cash from operations - capex). Answer in USD millions.",
51 "answer": "$3215.00"
52 },
53 "other_info": {
54 "financebench_id": "financebench_id_04854",
55 "company": "General Mills",
56 "doc_name": "GENERALMILLS_2020_10K",
57 "question_type": "metrics-generated",
58 "question_reasoning": "Numerical reasoning",
59 "domain_question_num": null,
60 "question": "According to the information provided in the statement of cash flows, what is the FY2020 free cash flow (FCF) for General Mills? FCF here is defined as: (cash from operations - capex). Answer in USD millions.",
61 "answer": "$3215.00",
62 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Cash from operations. This metric was located in the 10K as a single line item named: Net cash provided by operating activities.\n\nMetric 2: Capital expenditures. This metric was located in the 10K as a single line item named: Purchases of land, buildings, and equipment.",
63 "dataset_subset_label": "OPEN_SOURCE",
64 "evidence": [
65 {
66 "evidence_text": "52 \n \nConsolidated Statements of Cash Flows \nGENERAL MILLS, INC. AND SUBSIDIARIES \n(In Millions) \n \nFiscal Year \n \n2020 \n2019 \n2018 \nCash Flows - Operating Activities \n \n \n \n \nNet earnings, including earnings attributable to redeemable and noncontrolling interests $ \n2,210.8 $ \n1,786.2 $ \n2,163.0 \nAdjustments to reconcile net earnings to net cash provided by operating activities: \n \n \n \n \n \n \nDepreciation and amortization \n \n594.7 \n620.1 \n618.8 \nAfter-tax earnings from joint ventures \n \n(91.1) \n(72.0) \n(84.7)\nDistributions of earnings from joint ventures \n \n76.5 \n86.7 \n113.2 \nStock-based compensation \n \n94.9 \n84.9 \n77.0 \nDeferred income taxes \n \n(29.6) \n93.5 \n(504.3)\nPension and other postretirement benefit plan contributions \n \n(31.1) \n(28.8) \n(31.8)\nPension and other postretirement benefit plan costs \n \n(32.3) \n6.1 \n4.6 \nDivestitures loss \n \n- \n30.0 \n- \nRestructuring, impairment, and other exit costs \n \n43.6 \n235.7 \n126.0 \nChanges in current assets and liabilities, excluding the effects of acquisitions \n and divestitures \n \n793.9 \n(7.5) \n542.1 \nOther, net \n \n45.9 \n(27.9) \n(182.9)\nNet cash provided by operating activities \n \n3,676.2 \n2,807.0 \n2,841.0 \nCash Flows - Investing Activities \n \n \n \n \n \n \nPurchases of land, buildings, and equipment \n \n(460.8) \n(537.6) \n(622.7)\nAcquisition, net of cash acquired \n \n- \n- \n(8,035.8)\nInvestments in affiliates, net \n \n(48.0) \n0.1 \n(17.3)\nProceeds from disposal of land, buildings, and equipment \n \n1.7 \n14.3 \n1.4 \nProceeds from divestitures \n \n- \n26.4 \n- \nOther, net \n \n20.9 \n(59.7) \n(11.0)\nNet cash used by investing activities \n \n(486.2) \n(556.5) \n(8,685.4)\nCash Flows - Financing Activities \n \n \n \n \n \n \nChange in notes payable \n \n(1,158.6) \n(66.3) \n327.5 \nIssuance of long-term debt \n \n1,638.1 \n339.1 \n6,550.0 \nPayment of long-term debt \n \n(1,396.7) \n(1,493.8) \n(600.1)\nProceeds from common stock issued on exercised options \n \n263.4 \n241.4 \n99.3 \nProceeds from common stock issued \n \n- \n- \n969.9 \nPurchases of common stock for treasury \n \n(3.4) \n(1.1) \n(601.6)\nDividends paid \n \n(1,195.8) \n(1,181.7) \n(1,139.7)\nInvestments in redeemable interest \n \n- \n55.7 \n- \nDistributions to noncontrolling and redeemable interest holders \n \n(72.5) \n(38.5) \n(51.8)\nOther, net \n \n(16.0) \n(31.2) \n(108.0)\nNet cash (used) provided by financing activities \n \n(1,941.5) \n(2,176.4) \n5,445.5 \nEffect of exchange rate changes on cash and cash equivalents \n \n(20.7) \n(23.1) \n31.8 \nIncrease (decrease) in cash and cash equivalents \n \n1,227.8 \n \n51.0 \n \n(367.1)\nCash and cash equivalents - beginning of year \n \n450.0 \n399.0 \n766.1 \nCash and cash equivalents - end of year \n$ \n1,677.8 $ \n450.0 $ \n399.0 \nCash flow from changes in current assets and liabilities, excluding the effects of \n acquisitions and divestitures: \n \n \n \n \n \n \nReceivables \n$ \n37.9 $ \n(42.7) $ \n(122.7)\nInventories \n \n103.1 \n53.7 \n15.6 \nPrepaid expenses and other current assets \n \n94.2 \n(114.3) \n(10.7)\nAccounts payable \n \n392.5 \n162.4 \n575.3 \nOther current liabilities \n \n166.2 \n(66.6) \n84.6 \nChanges in current assets and liabilities \n$ \n793.9 $ \n(7.5) $ \n542.1 \nSee accompanying notes to consolidated financial statements.",
67 "doc_name": "GENERALMILLS_2020_10K",
68 "evidence_page_num": 51,
69 "evidence_text_full_page": " \n52 \n \nConsolidated Statements of Cash Flows \nGENERAL MILLS, INC. AND SUBSIDIARIES \n(In Millions) \n \nFiscal Year \n \n2020 \n2019 \n2018 \nCash Flows - Operating Activities \n \n \n \n \nNet earnings, including earnings attributable to redeemable and noncontrolling interests $ \n2,210.8 $ \n1,786.2 $ \n2,163.0 \nAdjustments to reconcile net earnings to net cash provided by operating activities: \n \n \n \n \n \n \nDepreciation and amortization \n \n594.7 \n620.1 \n618.8 \nAfter-tax earnings from joint ventures \n \n(91.1) \n(72.0) \n(84.7)\nDistributions of earnings from joint ventures \n \n76.5 \n86.7 \n113.2 \nStock-based compensation \n \n94.9 \n84.9 \n77.0 \nDeferred income taxes \n \n(29.6) \n93.5 \n(504.3)\nPension and other postretirement benefit plan contributions \n \n(31.1) \n(28.8) \n(31.8)\nPension and other postretirement benefit plan costs \n \n(32.3) \n6.1 \n4.6 \nDivestitures loss \n \n- \n30.0 \n- \nRestructuring, impairment, and other exit costs \n \n43.6 \n235.7 \n126.0 \nChanges in current assets and liabilities, excluding the effects of acquisitions \n and divestitures \n \n793.9 \n(7.5) \n542.1 \nOther, net \n \n45.9 \n(27.9) \n(182.9)\nNet cash provided by operating activities \n \n3,676.2 \n2,807.0 \n2,841.0 \nCash Flows - Investing Activities \n \n \n \n \n \n \nPurchases of land, buildings, and equipment \n \n(460.8) \n(537.6) \n(622.7)\nAcquisition, net of cash acquired \n \n- \n- \n(8,035.8)\nInvestments in affiliates, net \n \n(48.0) \n0.1 \n(17.3)\nProceeds from disposal of land, buildings, and equipment \n \n1.7 \n14.3 \n1.4 \nProceeds from divestitures \n \n- \n26.4 \n- \nOther, net \n \n20.9 \n(59.7) \n(11.0)\nNet cash used by investing activities \n \n(486.2) \n(556.5) \n(8,685.4)\nCash Flows - Financing Activities \n \n \n \n \n \n \nChange in notes payable \n \n(1,158.6) \n(66.3) \n327.5 \nIssuance of long-term debt \n \n1,638.1 \n339.1 \n6,550.0 \nPayment of long-term debt \n \n(1,396.7) \n(1,493.8) \n(600.1)\nProceeds from common stock issued on exercised options \n \n263.4 \n241.4 \n99.3 \nProceeds from common stock issued \n \n- \n- \n969.9 \nPurchases of common stock for treasury \n \n(3.4) \n(1.1) \n(601.6)\nDividends paid \n \n(1,195.8) \n(1,181.7) \n(1,139.7)\nInvestments in redeemable interest \n \n- \n55.7 \n- \nDistributions to noncontrolling and redeemable interest holders \n \n(72.5) \n(38.5) \n(51.8)\nOther, net \n \n(16.0) \n(31.2) \n(108.0)\nNet cash (used) provided by financing activities \n \n(1,941.5) \n(2,176.4) \n5,445.5 \nEffect of exchange rate changes on cash and cash equivalents \n \n(20.7) \n(23.1) \n31.8 \nIncrease (decrease) in cash and cash equivalents \n \n1,227.8 \n \n51.0 \n \n(367.1)\nCash and cash equivalents - beginning of year \n \n450.0 \n399.0 \n766.1 \nCash and cash equivalents - end of year \n$ \n1,677.8 $ \n450.0 $ \n399.0 \nCash flow from changes in current assets and liabilities, excluding the effects of \n acquisitions and divestitures: \n \n \n \n \n \n \nReceivables \n$ \n37.9 $ \n(42.7) $ \n(122.7)\nInventories \n \n103.1 \n53.7 \n15.6 \nPrepaid expenses and other current assets \n \n94.2 \n(114.3) \n(10.7)\nAccounts payable \n \n392.5 \n162.4 \n575.3 \nOther current liabilities \n \n166.2 \n(66.6) \n84.6 \nChanges in current assets and liabilities \n$ \n793.9 $ \n(7.5) $ \n542.1 \nSee accompanying notes to consolidated financial statements. \n \n \n \n \n"
70 }
71 ]
72 }
73 },
74 {
75 "key_content": {
76 "reference": [
77 "Table of Contents\nLockheed Martin Corporation\nConsolidated Statements of Earnings\n(in millions, except per share data)\n \n \nYears Ended December 31,\n2020\n2019\n2018\nNet sales\nProducts\n$\n54,928 \n$\n50,053 \n$\n45,005 \nServices\n10,470 \n9,759 \n8,757 \nTotal net sales\n65,398 \n59,812 \n53,762 \nCost of sales\nProducts\n(48,996)\n(44,589)\n(40,293)\nServices\n(9,371)\n(8,731)\n(7,738)\nSeverance charges\n(27)\n \n(96)\nOther unallocated, net\n1,650 \n1,875 \n1,639 \nTotal cost of sales\n(56,744)\n(51,445)\n(46,488)\nGross profit\n8,654 \n8,367 \n7,274 \nOther (expense) income, net\n(10)\n178 \n60 \nOperating profit\n8,644 \n8,545 \n7,334 \nInterest expense\n(591)\n(653)\n(668)\nOther non-operating income (expense), net\n182 \n(651)\n(828)\nEarnings from continuing operations before income taxes\n8,235 \n7,241 \n5,838 \nIncome tax expense\n(1,347)\n(1,011)\n(792)\nNet earnings from continuing operations\n6,888 \n6,230 \n5,046 \nNet loss from discontinued operations\n(55)\n \n \nNet earnings\n$\n6,833 \n$\n6,230 \n$\n5,046 \n \nEarnings (loss) per common share\nBasic\nContinuing operations\n$\n24.60 \n$\n22.09 \n$\n17.74 \nDiscontinued operations\n(0.20)\n \n \nBasic earnings per common share\n$\n24.40 \n$\n22.09 \n$\n17.74 \nDiluted\nContinuing operations\n$\n24.50 \n$\n21.95 \n$\n17.59 \nDiscontinued operations\n(0.20)\n \n \nDiluted earnings per common share\n$\n24.30 \n$\n21.95 \n$\n17.59 \nThe accompanying notes are an integral part of these consolidated financial statements.\n67",
78 "Table of Contents\nLockheed Martin Corporation\nConsolidated Balance Sheets\n(in millions, except par value)\n \n \nDecember 31,\n2020\n2019\nAssets\nCurrent assets\nCash and cash equivalents\n$\n3,160 \n$\n1,514 \nReceivables, net\n1,978 \n2,337 \nContract assets\n9,545 \n9,094 \nInventories\n3,545 \n3,619 \nOther current assets\n1,150 \n531 \nTotal current assets\n19,378 \n17,095 \nProperty, plant and equipment, net\n7,213 \n6,591 \nGoodwill\n10,806 \n10,604 \nIntangible assets, net\n3,012 \n3,213 \nDeferred income taxes\n3,475 \n3,319 \nOther noncurrent assets\n6,826 \n6,706 \nTotal assets\n$\n50,710 \n$\n47,528 \nLiabilities and equity\nCurrent liabilities\nAccounts payable\n$\n880 \n$\n1,281 \nContract liabilities\n7,545 \n7,054 \nSalaries, benefits and payroll taxes\n3,163 \n2,466 \nCurrent maturities of long-term debt\n500 \n1,250 \nOther current liabilities\n1,845 \n1,921 \nTotal current liabilities\n13,933 \n13,972 \nLong-term debt, net\n11,669 \n11,404 \nAccrued pension liabilities\n12,874 \n13,234 \nOther noncurrent liabilities\n6,196 \n5,747 \nTotal liabilities\n44,672 \n44,357 \nStockholders equity\nCommon stock, $1 par value per share\n279 \n280 \nAdditional paid-in capital\n221 \n \nRetained earnings\n21,636 \n18,401 \nAccumulated other comprehensive loss\n(16,121)\n(15,554)\nTotal stockholders equity\n6,015 \n3,127 \nNoncontrolling interests in subsidiary\n23 \n44 \nTotal equity\n6,038 \n3,171 \nTotal liabilities and equity\n$\n50,710 \n$\n47,528 \nThe accompanying notes are an integral part of these consolidated financial statements.\n69"
79 ],
80 "reference_idx": [
81 34040,
82 34042
83 ],
84 "question": "We need to calculate a reasonable approximation (or exact number if possible) of a financial metric. Basing your judgment by information plainly provided in the balance sheet and the P&L statement, what is Lockheed Martin's FY2020 asset turnover ratio? Asset turnover ratio is defined as: FY2020 revenue / (average total assets between FY2019 and FY2020). Round your answer to two decimal places.",
85 "answer": "1.33"
86 },
87 "other_info": {
88 "financebench_id": "financebench_id_04412",
89 "company": "Lockheed Martin",
90 "doc_name": "LOCKHEEDMARTIN_2020_10K",
91 "question_type": "metrics-generated",
92 "question_reasoning": "Numerical reasoning",
93 "domain_question_num": null,
94 "question": "We need to calculate a reasonable approximation (or exact number if possible) of a financial metric. Basing your judgment by information plainly provided in the balance sheet and the P&L statement, what is Lockheed Martin's FY2020 asset turnover ratio? Asset turnover ratio is defined as: FY2020 revenue / (average total assets between FY2019 and FY2020). Round your answer to two decimal places.",
95 "answer": "1.33",
96 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Total revenue. This metric was located in the 10K as a single line item named: Total net sales.\n\nMetric 2: Total assets. This metric was located in the 10K as a single line item named: Total assets.",
97 "dataset_subset_label": "OPEN_SOURCE",
98 "evidence": [
99 {
100 "evidence_text": "Table of Contents\nLockheed Martin Corporation\nConsolidated Statements of Earnings\n(in millions, except per share data)\n \n \nYears Ended December 31,\n2020\n2019\n2018\nNet sales\nProducts\n$\n54,928 \n$\n50,053 \n$\n45,005 \nServices\n10,470 \n9,759 \n8,757 \nTotal net sales\n65,398 \n59,812 \n53,762 \nCost of sales\nProducts\n(48,996)\n(44,589)\n(40,293)\nServices\n(9,371)\n(8,731)\n(7,738)\nSeverance charges\n(27)\n \n(96)\nOther unallocated, net\n1,650 \n1,875 \n1,639 \nTotal cost of sales\n(56,744)\n(51,445)\n(46,488)\nGross profit\n8,654 \n8,367 \n7,274 \nOther (expense) income, net\n(10)\n178 \n60 \nOperating profit\n8,644 \n8,545 \n7,334 \nInterest expense\n(591)\n(653)\n(668)\nOther non-operating income (expense), net\n182 \n(651)\n(828)\nEarnings from continuing operations before income taxes\n8,235 \n7,241 \n5,838 \nIncome tax expense\n(1,347)\n(1,011)\n(792)\nNet earnings from continuing operations\n6,888 \n6,230 \n5,046 \nNet loss from discontinued operations\n(55)\n \n \nNet earnings\n$\n6,833 \n$\n6,230 \n$\n5,046 \n \nEarnings (loss) per common share\nBasic\nContinuing operations\n$\n24.60 \n$\n22.09 \n$\n17.74 \nDiscontinued operations\n(0.20)\n \n \nBasic earnings per common share\n$\n24.40 \n$\n22.09 \n$\n17.74 \nDiluted\nContinuing operations\n$\n24.50 \n$\n21.95 \n$\n17.59 \nDiscontinued operations\n(0.20)\n \n \nDiluted earnings per common share\n$\n24.30 \n$\n21.95 \n$\n17.59 \nThe accompanying notes are an integral part of these consolidated financial statements.\n67",
101 "doc_name": "LOCKHEEDMARTIN_2020_10K",
102 "evidence_page_num": 66,
103 "evidence_text_full_page": "Table of Contents\nLockheed Martin Corporation\nConsolidated Statements of Earnings\n(in millions, except per share data)\n \n \nYears Ended December 31,\n2020\n2019\n2018\nNet sales\nProducts\n$\n54,928 \n$\n50,053 \n$\n45,005 \nServices\n10,470 \n9,759 \n8,757 \nTotal net sales\n65,398 \n59,812 \n53,762 \nCost of sales\nProducts\n(48,996)\n(44,589)\n(40,293)\nServices\n(9,371)\n(8,731)\n(7,738)\nSeverance charges\n(27)\n \n(96)\nOther unallocated, net\n1,650 \n1,875 \n1,639 \nTotal cost of sales\n(56,744)\n(51,445)\n(46,488)\nGross profit\n8,654 \n8,367 \n7,274 \nOther (expense) income, net\n(10)\n178 \n60 \nOperating profit\n8,644 \n8,545 \n7,334 \nInterest expense\n(591)\n(653)\n(668)\nOther non-operating income (expense), net\n182 \n(651)\n(828)\nEarnings from continuing operations before income taxes\n8,235 \n7,241 \n5,838 \nIncome tax expense\n(1,347)\n(1,011)\n(792)\nNet earnings from continuing operations\n6,888 \n6,230 \n5,046 \nNet loss from discontinued operations\n(55)\n \n \nNet earnings\n$\n6,833 \n$\n6,230 \n$\n5,046 \n \nEarnings (loss) per common share\nBasic\nContinuing operations\n$\n24.60 \n$\n22.09 \n$\n17.74 \nDiscontinued operations\n(0.20)\n \n \nBasic earnings per common share\n$\n24.40 \n$\n22.09 \n$\n17.74 \nDiluted\nContinuing operations\n$\n24.50 \n$\n21.95 \n$\n17.59 \nDiscontinued operations\n(0.20)\n \n \nDiluted earnings per common share\n$\n24.30 \n$\n21.95 \n$\n17.59 \nThe accompanying notes are an integral part of these consolidated financial statements.\n67\n"
104 },
105 {
106 "evidence_text": "Table of Contents\nLockheed Martin Corporation\nConsolidated Balance Sheets\n(in millions, except par value)\n \n \nDecember 31,\n2020\n2019\nAssets\nCurrent assets\nCash and cash equivalents\n$\n3,160 \n$\n1,514 \nReceivables, net\n1,978 \n2,337 \nContract assets\n9,545 \n9,094 \nInventories\n3,545 \n3,619 \nOther current assets\n1,150 \n531 \nTotal current assets\n19,378 \n17,095 \nProperty, plant and equipment, net\n7,213 \n6,591 \nGoodwill\n10,806 \n10,604 \nIntangible assets, net\n3,012 \n3,213 \nDeferred income taxes\n3,475 \n3,319 \nOther noncurrent assets\n6,826 \n6,706 \nTotal assets\n$\n50,710 \n$\n47,528 \nLiabilities and equity\nCurrent liabilities\nAccounts payable\n$\n880 \n$\n1,281 \nContract liabilities\n7,545 \n7,054 \nSalaries, benefits and payroll taxes\n3,163 \n2,466 \nCurrent maturities of long-term debt\n500 \n1,250 \nOther current liabilities\n1,845 \n1,921 \nTotal current liabilities\n13,933 \n13,972 \nLong-term debt, net\n11,669 \n11,404 \nAccrued pension liabilities\n12,874 \n13,234 \nOther noncurrent liabilities\n6,196 \n5,747 \nTotal liabilities\n44,672 \n44,357 \nStockholders equity\nCommon stock, $1 par value per share\n279 \n280 \nAdditional paid-in capital\n221 \n \nRetained earnings\n21,636 \n18,401 \nAccumulated other comprehensive loss\n(16,121)\n(15,554)\nTotal stockholders equity\n6,015 \n3,127 \nNoncontrolling interests in subsidiary\n23 \n44 \nTotal equity\n6,038 \n3,171 \nTotal liabilities and equity\n$\n50,710 \n$\n47,528 \nThe accompanying notes are an integral part of these consolidated financial statements.\n69",
107 "doc_name": "LOCKHEEDMARTIN_2020_10K",
108 "evidence_page_num": 68,
109 "evidence_text_full_page": "Table of Contents\nLockheed Martin Corporation\nConsolidated Balance Sheets\n(in millions, except par value)\n \n \nDecember 31,\n2020\n2019\nAssets\nCurrent assets\nCash and cash equivalents\n$\n3,160 \n$\n1,514 \nReceivables, net\n1,978 \n2,337 \nContract assets\n9,545 \n9,094 \nInventories\n3,545 \n3,619 \nOther current assets\n1,150 \n531 \nTotal current assets\n19,378 \n17,095 \nProperty, plant and equipment, net\n7,213 \n6,591 \nGoodwill\n10,806 \n10,604 \nIntangible assets, net\n3,012 \n3,213 \nDeferred income taxes\n3,475 \n3,319 \nOther noncurrent assets\n6,826 \n6,706 \nTotal assets\n$\n50,710 \n$\n47,528 \nLiabilities and equity\nCurrent liabilities\nAccounts payable\n$\n880 \n$\n1,281 \nContract liabilities\n7,545 \n7,054 \nSalaries, benefits and payroll taxes\n3,163 \n2,466 \nCurrent maturities of long-term debt\n500 \n1,250 \nOther current liabilities\n1,845 \n1,921 \nTotal current liabilities\n13,933 \n13,972 \nLong-term debt, net\n11,669 \n11,404 \nAccrued pension liabilities\n12,874 \n13,234 \nOther noncurrent liabilities\n6,196 \n5,747 \nTotal liabilities\n44,672 \n44,357 \nStockholders equity\nCommon stock, $1 par value per share\n279 \n280 \nAdditional paid-in capital\n221 \n \nRetained earnings\n21,636 \n18,401 \nAccumulated other comprehensive loss\n(16,121)\n(15,554)\nTotal stockholders equity\n6,015 \n3,127 \nNoncontrolling interests in subsidiary\n23 \n44 \nTotal equity\n6,038 \n3,171 \nTotal liabilities and equity\n$\n50,710 \n$\n47,528 \nThe accompanying notes are an integral part of these consolidated financial statements.\n69\n"
110 }
111 ]
112 }
113 },
114 {
115 "key_content": {
116 "reference": [
117 "The Firm grew TBVPS, ending the first quarter of 2021 at \n$66.56, up 10% versus the prior year."
118 ],
119 "reference_idx": [
120 28991
121 ],
122 "question": "If JPM went bankrupted by the end by 2021 Q1 and liquidated all of its assets to pay its shareholders, how much could each shareholder get?",
123 "answer": "They could receive $66.56 per share."
124 },
125 "other_info": {
126 "financebench_id": "financebench_id_02119",
127 "company": "JPMorgan",
128 "doc_name": "JPMORGAN_2021Q1_10Q",
129 "question_type": "novel-generated",
130 "question_reasoning": null,
131 "domain_question_num": null,
132 "question": "If JPM went bankrupted by the end by 2021 Q1 and liquidated all of its assets to pay its shareholders, how much could each shareholder get?",
133 "answer": "They could receive $66.56 per share.",
134 "justification": null,
135 "dataset_subset_label": "OPEN_SOURCE",
136 "evidence": [
137 {
138 "evidence_text": "The Firm grew TBVPS, ending the first quarter of 2021 at \n$66.56, up 10% versus the prior year.",
139 "doc_name": "JPMORGAN_2021Q1_10Q",
140 "evidence_page_num": 5,
141 "evidence_text_full_page": "Selected capital-related metrics\n The Firms CET1 capital was $206 billion, and the \nStandardized and Advanced CET1 ratios were 13.1% and \n13.7%, respectively.\n The Firms SLR was 6.7%, and without the temporary \nexclusions of U.S. Treasury securities and deposits at \nFederal Reserve Banks, 5.5%.\n The Firm grew TBVPS, ending the first quarter of 2021 at \n$66.56, up 10% versus the prior year.\nPre-provision profit, ROTCE and TBVPS are non-GAAP \nfinancial measures. Refer to Explanation and Reconciliation \nof the Firms Use of Non-GAAP Financial Measures on pages \n16-17 for a further discussion of each of these measures.\nBusiness segment highlights\nSelected business metrics for each of the Firms four LOBs \nare presented below for the first quarter of 2021.\nCCB\nROE \n54%\n Average deposits up 32%; client investment \nassets up 44% \n Average loans down 7%; debit and credit card \nsales volume up 9%\n Active mobile customers up 9%\nCIB\nROE \n27%\n Global Investment Banking wallet share of \n9.0% in 1Q21\n Total Markets revenue of $9.1 billion, up 25%, \nwith Fixed Income Markets up 15% and Equity \nMarkets up 47%\nCB\nROE \n19%\n Gross Investment Banking revenue of $1.1 \nbillion, up 65%\n Average loans down 2%; average deposits up \n54%\nAWM\nROE\n 35%\n Assets under management (AUM) of $2.8 \ntrillion, up 28%\n Average loans up 18%; average deposits up \n43%\nRefer to the Business Segment Results on pages 18-34 for a \ndetailed discussion of results by business segment.\nCredit provided and capital raised\nJPMorgan Chase continues to support consumers, \nbusinesses and communities around the globe. The Firm \nprovided new and renewed credit and raised capital for \nwholesale and consumer clients during the first three \nmonths of 2021, consisting of:\n$804 billion\nTotal credit provided and capital raised \n(including loans and commitments)(a)\n$69\nbillion\nCredit for consumers\n$4\nbillion\nCredit for U.S. small businesses\n$300 \nbillion\nCredit for corporations\n$417 \nbillion\nCapital raised for corporate clients and \nnon-U.S. government entities\n$14\n billion\nCredit and capital raised for nonprofit \nand U.S. government entities(b)\n$10 billion\nLoans under the Small Business \nAdministrations Paycheck Protection\nProgram\n(a) Excludes loans under the SBAs PPP.\n(b) Includes states, municipalities, hospitals and universities.\n6\n"
142 }
143 ]
144 }
145 },
146 {
147 "key_content": {
148 "reference": [
149 "Effective May 26, 2023, PepsiCo terminated the $3,800,000,000 five year unsecured revolving credit agreement, dated as of May 27, 2022, among\nPepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent (the 2022 Five Year Credit Agreement). There were no\noutstanding borrowings under the 2022 Five Year Credit Agreement at the time of its termination.\n\nOn May 26, 2023, PepsiCo entered into a new $4,200,000,000 five year unsecured revolving credit agreement (the 2023 Five Year Credit\nAgreement) among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent. The 2023 Five Year Credit Agreement\nenables PepsiCo and its borrowing subsidiaries to borrow up to $4,200,000,000 in U.S. Dollars and/or Euros, including a $750,000,000 swing line\nsubfacility for Euro-denominated borrowings permitted to be borrowed on a same day basis, subject to customary terms and conditions, and expires on\nMay 26, 2028. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the 2023 Five Year\nCredit Agreement, increase the commitments under the 2023 Five Year Credit Agreement to up to $4,950,000,000 in U.S. Dollars and/or Euros. PepsiCo\nmay, once a year, request renewal of the 2023 Five Year Credit Agreement for an additional one year period. Subject to certain conditions stated in the 2023\nFive Year Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under the 2023 Five Year Credit\nAgreement at any time during the term of the 2023 Five Year Credit Agreement. Funds borrowed under the 2023 Five Year Credit Agreement may be used\nfor general corporate purposes of PepsiCo and its subsidiaries. The 2023 Five Year Credit Agreement contains customary representations and warranties\nand events of default. In the ordinary course of their respective businesses, the lenders under the 2023 Five Year Credit Agreement and their affiliates have\nengaged, and may in the future engage, in commercial banking and/or investment banking transactions with PepsiCo and its affiliates."
150 ],
151 "reference_idx": [
152 44949
153 ],
154 "question": "By how much did Pepsico increase its unsecured five year revolving credit agreement on May 26, 2023?",
155 "answer": "$400,000,000 increase."
156 },
157 "other_info": {
158 "financebench_id": "financebench_id_00705",
159 "company": "PepsiCo",
160 "doc_name": "PEPSICO_2023_8K_dated-2023-05-30",
161 "question_type": "novel-generated",
162 "question_reasoning": null,
163 "domain_question_num": null,
164 "question": "By how much did Pepsico increase its unsecured five year revolving credit agreement on May 26, 2023?",
165 "answer": "$400,000,000 increase.",
166 "justification": "Increase in five year unsecured revolving credit agreement = May 26, 2023, five year unsecured revolving credit agreement amount of $4,200,000,000 - May 27, 2022, five year unsecured revolving credit agreement amount of $3,800,000,000 = $400,000,000",
167 "dataset_subset_label": "OPEN_SOURCE",
168 "evidence": [
169 {
170 "evidence_text": "Effective May 26, 2023, PepsiCo terminated the $3,800,000,000 five year unsecured revolving credit agreement, dated as of May 27, 2022, among\nPepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent (the 2022 Five Year Credit Agreement). There were no\noutstanding borrowings under the 2022 Five Year Credit Agreement at the time of its termination.\n\nOn May 26, 2023, PepsiCo entered into a new $4,200,000,000 five year unsecured revolving credit agreement (the 2023 Five Year Credit\nAgreement) among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent. The 2023 Five Year Credit Agreement\nenables PepsiCo and its borrowing subsidiaries to borrow up to $4,200,000,000 in U.S. Dollars and/or Euros, including a $750,000,000 swing line\nsubfacility for Euro-denominated borrowings permitted to be borrowed on a same day basis, subject to customary terms and conditions, and expires on\nMay 26, 2028. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the 2023 Five Year\nCredit Agreement, increase the commitments under the 2023 Five Year Credit Agreement to up to $4,950,000,000 in U.S. Dollars and/or Euros. PepsiCo\nmay, once a year, request renewal of the 2023 Five Year Credit Agreement for an additional one year period. Subject to certain conditions stated in the 2023\nFive Year Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under the 2023 Five Year Credit\nAgreement at any time during the term of the 2023 Five Year Credit Agreement. Funds borrowed under the 2023 Five Year Credit Agreement may be used\nfor general corporate purposes of PepsiCo and its subsidiaries. The 2023 Five Year Credit Agreement contains customary representations and warranties\nand events of default. In the ordinary course of their respective businesses, the lenders under the 2023 Five Year Credit Agreement and their affiliates have\nengaged, and may in the future engage, in commercial banking and/or investment banking transactions with PepsiCo and its affiliates.",
171 "doc_name": "PEPSICO_2023_8K_dated-2023-05-30",
172 "evidence_page_num": 1,
173 "evidence_text_full_page": "\n\nItem 8.01.\nOther Events.\n\nEffective May 26, 2023, PepsiCo, Inc. (PepsiCo) terminated the $3,800,000,000 364 day unsecured revolving credit agreement, dated as of\nMay 27, 2022, among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent (the 2022 364 Day Credit\nAgreement). There were no outstanding borrowings under the 2022 364 Day Credit Agreement at the time of its termination.\n\nOn May 26, 2023, PepsiCo entered into a new $4,200,000,000 364 day unsecured revolving credit agreement (the 2023 364 Day Credit\nAgreement) among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent. The 2023 364 Day Credit Agreement\nenables PepsiCo and its borrowing subsidiaries to borrow up to $4,200,000,000 in U.S. Dollars and/or Euros, subject to customary terms and conditions,\nand expires on May 24, 2024. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the\n2023 364 Day Credit Agreement, increase the commitments under the 2023 364 Day Credit Agreement to up to $4,950,000,000 in U.S. Dollars and/or\nEuros. PepsiCo may request renewal of the 2023 364 Day Credit Agreement for an additional 364 day period or convert any amounts outstanding into a\nterm loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. Subject to\ncertain conditions stated in the 2023 364 Day Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under\nthe 2023 364 Day Credit Agreement at any time during the term of the 2023 364 Day Credit Agreement. Funds borrowed under the 2023 364 Day Credit\nAgreement may be used for general corporate purposes of PepsiCo and its subsidiaries. The 2023 364 Day Credit Agreement contains customary\nrepresentations and warranties and events of default. In the ordinary course of their respective businesses, the lenders under the 2023 364 Day Credit\nAgreement and their affiliates have engaged, and may in the future engage, in commercial banking and/or investment banking transactions with PepsiCo\nand its affiliates.\n\nEffective May 26, 2023, PepsiCo terminated the $3,800,000,000 five year unsecured revolving credit agreement, dated as of May 27, 2022, among\nPepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent (the 2022 Five Year Credit Agreement). There were no\noutstanding borrowings under the 2022 Five Year Credit Agreement at the time of its termination.\n\nOn May 26, 2023, PepsiCo entered into a new $4,200,000,000 five year unsecured revolving credit agreement (the 2023 Five Year Credit\nAgreement) among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent. The 2023 Five Year Credit Agreement\nenables PepsiCo and its borrowing subsidiaries to borrow up to $4,200,000,000 in U.S. Dollars and/or Euros, including a $750,000,000 swing line\nsubfacility for Euro-denominated borrowings permitted to be borrowed on a same day basis, subject to customary terms and conditions, and expires on\nMay 26, 2028. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the 2023 Five Year\nCredit Agreement, increase the commitments under the 2023 Five Year Credit Agreement to up to $4,950,000,000 in U.S. Dollars and/or Euros. PepsiCo\nmay, once a year, request renewal of the 2023 Five Year Credit Agreement for an additional one year period. Subject to certain conditions stated in the 2023\nFive Year Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under the 2023 Five Year Credit\nAgreement at any time during the term of the 2023 Five Year Credit Agreement. Funds borrowed under the 2023 Five Year Credit Agreement may be used\nfor general corporate purposes of PepsiCo and its subsidiaries. The 2023 Five Year Credit Agreement contains customary representations and warranties\nand events of default. In the ordinary course of their respective businesses, the lenders under the 2023 Five Year Credit Agreement and their affiliates have\nengaged, and may in the future engage, in commercial banking and/or investment banking transactions with PepsiCo and its affiliates.\n\nThe foregoing descriptions of the 2023 364 Day Credit Agreement and 2023 Five Year Credit Agreement do not purport to be complete and are\nqualified in their entirety by reference to the full text of the 2023 364 Day Credit Agreement and the 2023 Five Year Credit Agreement, as applicable,\nwhich are filed as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein.\n\n1\n"
174 }
175 ]
176 }
177 },
178 {
179 "key_content": {
180 "reference": [
181 "Proposal 1. With respect to the proposal to elect ten nominees to the Board of Directors (the Board), each for a one-year term expiring at the\nannual meeting of shareholders to be held in 2023, the votes were cast for the proposal as set forth below:\n \nName\n \nVotes For\nVotes Against\nAbstentions\nBroker Non-Votes\nVirginia C. Drosos\n \n59,657,810\n294,935\n \n10,714,238\n \n6,884,223\nAlan D. Feldman\n \n54,760,830\n5,184,437\n \n10,721,716\n \n6,884,223\nRichard A. Johnson\n \n54,484,293\n16,105,005\n \n77,685\n \n6,884,223\nGuillermo G. Marmol\n \n54,193,921\n5,753,395\n \n10,719,667\n \n6,884,223\nDarlene Nicosia\n \n55,123,930\n4,827,808\n \n10,715,245\n \n6,884,223\nSteven Oakland\n \n55,421,657\n4,524,393\n \n10,720,933\n \n6,884,223\nUlice Payne, Jr.\n \n54,993,396\n4,950,917\n \n10,722,670\n \n6,884,223\nKimberly Underhill\n \n55,046,260\n4,906,500\n \n10,714,223\n \n6,884,223\nTristan Walker\n \n55,528,794\n4,419,340\n \n10,718,849\n \n6,884,223\nDona D. Young\n \n53,876,257\n6,074,467\n \n10,716,259\n \n6,884,223\nBased on the votes set forth above, each of the ten nominees to the Board was duly elected."
182 ],
183 "reference_idx": [
184 24626
185 ],
186 "question": "Were there any board member nominees who had substantially more votes against joining than the other nominees?",
187 "answer": "Yes, his name is Richard A. Johnson"
188 },
189 "other_info": {
190 "financebench_id": "financebench_id_00822",
191 "company": "Foot Locker",
192 "doc_name": "FOOTLOCKER_2022_8K_dated-2022-05-20",
193 "question_type": "novel-generated",
194 "question_reasoning": null,
195 "domain_question_num": null,
196 "question": "Were there any board member nominees who had substantially more votes against joining than the other nominees?",
197 "answer": "Yes, his name is Richard A. Johnson",
198 "justification": "Richard A. Johnson had roughly 16.1 million votes against him joining whereas the maximum votes against joining among all other candidates was roughly 6.1 million.",
199 "dataset_subset_label": "OPEN_SOURCE",
200 "evidence": [
201 {
202 "evidence_text": "Proposal 1. With respect to the proposal to elect ten nominees to the Board of Directors (the Board), each for a one-year term expiring at the\nannual meeting of shareholders to be held in 2023, the votes were cast for the proposal as set forth below:\n \nName\n \nVotes For\nVotes Against\nAbstentions\nBroker Non-Votes\nVirginia C. Drosos\n \n59,657,810\n294,935\n \n10,714,238\n \n6,884,223\nAlan D. Feldman\n \n54,760,830\n5,184,437\n \n10,721,716\n \n6,884,223\nRichard A. Johnson\n \n54,484,293\n16,105,005\n \n77,685\n \n6,884,223\nGuillermo G. Marmol\n \n54,193,921\n5,753,395\n \n10,719,667\n \n6,884,223\nDarlene Nicosia\n \n55,123,930\n4,827,808\n \n10,715,245\n \n6,884,223\nSteven Oakland\n \n55,421,657\n4,524,393\n \n10,720,933\n \n6,884,223\nUlice Payne, Jr.\n \n54,993,396\n4,950,917\n \n10,722,670\n \n6,884,223\nKimberly Underhill\n \n55,046,260\n4,906,500\n \n10,714,223\n \n6,884,223\nTristan Walker\n \n55,528,794\n4,419,340\n \n10,718,849\n \n6,884,223\nDona D. Young\n \n53,876,257\n6,074,467\n \n10,716,259\n \n6,884,223\nBased on the votes set forth above, each of the ten nominees to the Board was duly elected.",
203 "doc_name": "FOOTLOCKER_2022_8K_dated-2022-05-20",
204 "evidence_page_num": 1,
205 "evidence_text_full_page": " \n \n \n \nItem 5.07.\n Submission of Matters to a Vote of Security Holders.\n \nAt Foot Locker, Inc.s (the Company) annual meeting of shareholders held on May 18, 2022 (the Annual Meeting), shareholders voted on the\nfour proposals set forth below. For more information on the proposals, please see the 2022 Proxy Statement, the relevant portions of which are incorporated\nherein by reference.\n \nAs of March 21, 2022, the Companys record date for the Annual Meeting, there were a total of 96,089,997 shares of common stock, $0.01 par\nvalue per share (Common Stock), outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 77,551,206 shares of Common Stock\nwere represented in person or by proxy and, therefore, a quorum was present.\n \nProposal 1. With respect to the proposal to elect ten nominees to the Board of Directors (the Board), each for a one-year term expiring at the\nannual meeting of shareholders to be held in 2023, the votes were cast for the proposal as set forth below:\n \nName\n \nVotes For\nVotes Against\nAbstentions\nBroker Non-Votes\nVirginia C. Drosos\n \n59,657,810\n294,935\n \n10,714,238\n \n6,884,223\nAlan D. Feldman\n \n54,760,830\n5,184,437\n \n10,721,716\n \n6,884,223\nRichard A. Johnson\n \n54,484,293\n16,105,005\n \n77,685\n \n6,884,223\nGuillermo G. Marmol\n \n54,193,921\n5,753,395\n \n10,719,667\n \n6,884,223\nDarlene Nicosia\n \n55,123,930\n4,827,808\n \n10,715,245\n \n6,884,223\nSteven Oakland\n \n55,421,657\n4,524,393\n \n10,720,933\n \n6,884,223\nUlice Payne, Jr.\n \n54,993,396\n4,950,917\n \n10,722,670\n \n6,884,223\nKimberly Underhill\n \n55,046,260\n4,906,500\n \n10,714,223\n \n6,884,223\nTristan Walker\n \n55,528,794\n4,419,340\n \n10,718,849\n \n6,884,223\nDona D. Young\n \n53,876,257\n6,074,467\n \n10,716,259\n \n6,884,223\nBased on the votes set forth above, each of the ten nominees to the Board was duly elected.\n \nProposal 2. With respect to the proposal to approve, on an advisory basis, the Companys named executive officers (NEOs) compensation, the\nvotes were cast for the proposal as set forth below:\n \nVotes For\n \nVotes Against\n \nAbstentions\n \nBroker Non-Votes\n57,172,731\n \n13,324,080\n \n170,172\n \n6,884,223\n \nBased on the votes set forth above, the NEOs compensation was approved.\n \nProposal 3. With respect to the proposal, on an advisory basis, whether the shareholder vote to approve the NEOs compensation should occur\nevery 1, 2, or 3 years, the votes were cast for the proposal as set forth below:\n \nVotes For\n1 Year\n \nVotes For\n2 Years\n \nVotes For\n3 Years\n \nAbstentions\n \nBroker Non-Votes\n66,076,265\n \n43,060\n \n4,352,683\n \n194,975\n \n6,884,223\n \nBased on the votes set forth above, the Company will include an annual advisory shareholder vote to approve the NEOs compensation in its\nproxy materials until the next required frequency vote, which is expected to be held at the annual meeting of shareholders to be held in 2028.\n \nProposal 4. With respect to the proposal to ratify the appointment of KPMG LLP as the Companys independent registered public accounting firm\nfor the 2022 fiscal year, the votes were cast for the proposal as set forth below:\n \nVotes For\n \nVotes Against\n \nAbstentions\n \n75,612,318\n \n1,854,695\n \n84,193\n \n \n \nBased on the votes set forth above, the appointment of KPMG LLP as the Companys independent registered public accounting firm for the 2022\nfiscal year was duly ratified.\n \n \n \n"
206 }
207 ]
208 }
209 },
210 {
211 "key_content": {
212 "reference": [
213 "BALANCE SHEETS \n \n(In millions)\n \n \n \n \n \n \n \n \n \nJune 30,\n \n2023 \n2022 \n \n \n \nAssets\n \n \n \nCurrent assets:\n \n \n \nCash and cash equivalents\n $\n34,704 $\n13,931 \nShort-term investments\n \n76,558 \n90,826 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTotal cash, cash equivalents, and short-term investments\n \n111,262 \n104,757 \nAccounts receivable, net of allowance for doubtful accounts of $650 and $633\n \n48,688 \n44,261 \nInventories\n \n2,500 \n3,742 \nOther current assets\n \n21,807 \n16,924 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal current assets\n \n184,257 \n169,684 \nProperty and equipment, net of accumulated depreciation of $68,251 and $59,660\n \n95,641 \n74,398 \nOperating lease right-of-use assets\n \n14,346 \n13,148 \nEquity investments\n \n9,879 \n6,891 \nGoodwill\n \n67,886 \n67,524 \nIntangible assets, net\n \n9,366 \n11,298 \nOther long-term assets\n \n30,601 \n21,897 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal assets\n $\n411,976 $\n364,840 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiabilities and stockholders equity\n \n \n \nCurrent liabilities:\n \n \n \nAccounts payable\n $\n18,095 $\n19,000 \nCurrent portion of long-term debt\n \n5,247 \n2,749 \nAccrued compensation\n \n11,009 \n10,661 \nShort-term income taxes\n \n4,152 \n4,067 \nShort-term unearned revenue\n \n50,901 \n45,538 \nOther current liabilities\n \n14,745 \n13,067 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal current liabilities\n \n104,149 \n95,082 \nLong-term debt\n \n41,990 \n47,032 \nLong-term income taxes\n \n25,560 \n26,069 \nLong-term unearned revenue\n \n2,912 \n2,870 \nDeferred income taxes\n \n433 \n230 \nOperating lease liabilities\n \n12,728 \n11,489 \nOther long-term liabilities\n \n17,981 \n15,526 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal liabilities\n \n205,753 \n198,298 \n \n \n \n \n \n \n \n \n \n \n \n \nCommitments and contingencies\n \n \n \nStockholders equity:\n \n \n \nCommon stock and paid-in capital shares authorized 24,000; outstanding 7,432 and 7,464\n \n93,718 \n86,939 \nRetained earnings\n \n118,848 \n84,281 \nAccumulated other comprehensive loss\n \n(6,343) \n(4,678)\n \n \n \n \n \n \n \n \n \n \n \n \nTotal stockholders equity\n \n206,223 \n166,542 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal liabilities and stockholders equity\n $\n411,976 $\n364,8"
214 ],
215 "reference_idx": [
216 37636
217 ],
218 "question": "Has Microsoft increased its debt on balance sheet between FY2023 and the FY2022 period?",
219 "answer": "No. Microsoft decreased its debt by $2.5bn in FY 2023 vs FY 2022."
220 },
221 "other_info": {
222 "financebench_id": "financebench_id_00552",
223 "company": "Microsoft",
224 "doc_name": "MICROSOFT_2023_10K",
225 "question_type": "domain-relevant",
226 "question_reasoning": "Numerical reasoning",
227 "domain_question_num": "dg22",
228 "question": "Has Microsoft increased its debt on balance sheet between FY2023 and the FY2022 period?",
229 "answer": "No. Microsoft decreased its debt by $2.5bn in FY 2023 vs FY 2022.",
230 "justification": "Current portion of long-term debt+Long-term debt\n5247+41990\n2749+47032",
231 "dataset_subset_label": "OPEN_SOURCE",
232 "evidence": [
233 {
234 "evidence_text": "BALANCE SHEETS \n \n(In millions)\n \n \n \n \n \n \n \n \n \nJune 30,\n \n2023 \n2022 \n \n \n \nAssets\n \n \n \nCurrent assets:\n \n \n \nCash and cash equivalents\n $\n34,704 $\n13,931 \nShort-term investments\n \n76,558 \n90,826 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTotal cash, cash equivalents, and short-term investments\n \n111,262 \n104,757 \nAccounts receivable, net of allowance for doubtful accounts of $650 and $633\n \n48,688 \n44,261 \nInventories\n \n2,500 \n3,742 \nOther current assets\n \n21,807 \n16,924 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal current assets\n \n184,257 \n169,684 \nProperty and equipment, net of accumulated depreciation of $68,251 and $59,660\n \n95,641 \n74,398 \nOperating lease right-of-use assets\n \n14,346 \n13,148 \nEquity investments\n \n9,879 \n6,891 \nGoodwill\n \n67,886 \n67,524 \nIntangible assets, net\n \n9,366 \n11,298 \nOther long-term assets\n \n30,601 \n21,897 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal assets\n $\n411,976 $\n364,840 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiabilities and stockholders equity\n \n \n \nCurrent liabilities:\n \n \n \nAccounts payable\n $\n18,095 $\n19,000 \nCurrent portion of long-term debt\n \n5,247 \n2,749 \nAccrued compensation\n \n11,009 \n10,661 \nShort-term income taxes\n \n4,152 \n4,067 \nShort-term unearned revenue\n \n50,901 \n45,538 \nOther current liabilities\n \n14,745 \n13,067 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal current liabilities\n \n104,149 \n95,082 \nLong-term debt\n \n41,990 \n47,032 \nLong-term income taxes\n \n25,560 \n26,069 \nLong-term unearned revenue\n \n2,912 \n2,870 \nDeferred income taxes\n \n433 \n230 \nOperating lease liabilities\n \n12,728 \n11,489 \nOther long-term liabilities\n \n17,981 \n15,526 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal liabilities\n \n205,753 \n198,298 \n \n \n \n \n \n \n \n \n \n \n \n \nCommitments and contingencies\n \n \n \nStockholders equity:\n \n \n \nCommon stock and paid-in capital shares authorized 24,000; outstanding 7,432 and 7,464\n \n93,718 \n86,939 \nRetained earnings\n \n118,848 \n84,281 \nAccumulated other comprehensive loss\n \n(6,343) \n(4,678)\n \n \n \n \n \n \n \n \n \n \n \n \nTotal stockholders equity\n \n206,223 \n166,542 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal liabilities and stockholders equity\n $\n411,976 $\n364,8",
235 "doc_name": "MICROSOFT_2023_10K",
236 "evidence_page_num": 59,
237 "evidence_text_full_page": "PART II\nItem 8\n \nBALANCE SHEETS \n \n(In millions)\n \n \n \n \n \n \n \n \n \nJune 30,\n \n2023 \n2022 \n \n \n \nAssets\n \n \n \nCurrent assets:\n \n \n \nCash and cash equivalents\n $\n34,704 $\n13,931 \nShort-term investments\n \n76,558 \n90,826 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nTotal cash, cash equivalents, and short-term investments\n \n111,262 \n104,757 \nAccounts receivable, net of allowance for doubtful accounts of $650 and $633\n \n48,688 \n44,261 \nInventories\n \n2,500 \n3,742 \nOther current assets\n \n21,807 \n16,924 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal current assets\n \n184,257 \n169,684 \nProperty and equipment, net of accumulated depreciation of $68,251 and $59,660\n \n95,641 \n74,398 \nOperating lease right-of-use assets\n \n14,346 \n13,148 \nEquity investments\n \n9,879 \n6,891 \nGoodwill\n \n67,886 \n67,524 \nIntangible assets, net\n \n9,366 \n11,298 \nOther long-term assets\n \n30,601 \n21,897 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal assets\n $\n411,976 $\n364,840 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \nLiabilities and stockholders equity\n \n \n \nCurrent liabilities:\n \n \n \nAccounts payable\n $\n18,095 $\n19,000 \nCurrent portion of long-term debt\n \n5,247 \n2,749 \nAccrued compensation\n \n11,009 \n10,661 \nShort-term income taxes\n \n4,152 \n4,067 \nShort-term unearned revenue\n \n50,901 \n45,538 \nOther current liabilities\n \n14,745 \n13,067 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal current liabilities\n \n104,149 \n95,082 \nLong-term debt\n \n41,990 \n47,032 \nLong-term income taxes\n \n25,560 \n26,069 \nLong-term unearned revenue\n \n2,912 \n2,870 \nDeferred income taxes\n \n433 \n230 \nOperating lease liabilities\n \n12,728 \n11,489 \nOther long-term liabilities\n \n17,981 \n15,526 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal liabilities\n \n205,753 \n198,298 \n \n \n \n \n \n \n \n \n \n \n \n \nCommitments and contingencies\n \n \n \nStockholders equity:\n \n \n \nCommon stock and paid-in capital shares authorized 24,000; outstanding 7,432 and 7,464\n \n93,718 \n86,939 \nRetained earnings\n \n118,848 \n84,281 \nAccumulated other comprehensive loss\n \n(6,343) \n(4,678)\n \n \n \n \n \n \n \n \n \n \n \n \nTotal stockholders equity\n \n206,223 \n166,542 \n \n \n \n \n \n \n \n \n \n \n \n \nTotal liabilities and stockholders equity\n $\n411,976 $\n364,840 \n \n \n \n \n \n \n \n \n \n \nRefer to accompanying notes. \n60\n"
238 }
239 ]
240 }
241 },
242 {
243 "key_content": {
244 "reference": [
245 "Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019\naccident of Ethiopian Airlines Flight 302."
246 ],
247 "reference_idx": [
248 16886
249 ],
250 "question": "Has Boeing reported any materially important ongoing legal battles from FY2022?",
251 "answer": "Yes. Multiple lawsuits have been filed against Boeing resulting from a 2018 Lion Air crash and a 2019 Ethiopian Airlines crash."
252 },
253 "other_info": {
254 "financebench_id": "financebench_id_01091",
255 "company": "Boeing",
256 "doc_name": "BOEING_2022_10K",
257 "question_type": "domain-relevant",
258 "question_reasoning": "Information extraction",
259 "domain_question_num": "dg11",
260 "question": "Has Boeing reported any materially important ongoing legal battles from FY2022?",
261 "answer": "Yes. Multiple lawsuits have been filed against Boeing resulting from a 2018 Lion Air crash and a 2019 Ethiopian Airlines crash.",
262 "justification": null,
263 "dataset_subset_label": "OPEN_SOURCE",
264 "evidence": [
265 {
266 "evidence_text": "Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019\naccident of Ethiopian Airlines Flight 302.",
267 "doc_name": "BOEING_2022_10K",
268 "evidence_page_num": 112,
269 "evidence_text_full_page": "Table of Contents\nbased upon current information, that the outcome of any such legal proceeding, claim, or government dispute and investigation will not have a\nmaterial effect on our financial position, results of operations or cash flows. Where it is reasonably possible that we will incur losses in excess of\nrecorded amounts in connection with any of the matters set forth below, we will disclose either the amount or range of reasonably possible\nlosses in excess of such amounts or, where no such amount or range can be reasonably estimated, the reasons why no such estimate can be\nmade.\nMultiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019\naccident of Ethiopian Airlines Flight 302. During 2021, we entered into (i) a Deferred Prosecution Agreement with the U.S. Department of Justice\nthat resolved the Department of Justices previously disclosed investigation into us regarding the evaluation of the 737 MAX by the Federal\nAviation Administration (FAA) as well as (ii) a proposed settlement with plaintiffs in a shareholder derivative lawsuit that resulted in the Company\nreceiving $219 in the second quarter of 2022. In September 2022, we settled a previously disclosed investigation by the Securities and\nExchange Commission related to the 737 MAX accidents and consented to a civil penalty, which resulted in an earnings charge of $200 that was\npaid in October 2022. We cannot reasonably estimate a range of loss, if any, not covered by available insurance that we may incur as a result of\nany remaining pending lawsuits or other matters related to the accidents and the 737 MAX.\nDuring 2019, we entered into agreements with Embraer S.A. (Embraer) to establish joint ventures that included the commercial aircraft and\nservices operations of Embraer, of which we were expected to acquire an 80 percent ownership stake for $4,200, as well as a joint venture to\npromote and develop new markets for the C-390 Millennium. In 2020, we exercised our contractual right to terminate these agreements based\non Embraers failure to meet certain required closing conditions. Embraer has disputed our right to terminate the agreements, and the dispute is\ncurrently in arbitration. We cannot reasonably estimate a range of loss, if any, that may result from the arbitration, which we currently expect to\nbe completed in late 2023 or early 2024.\nNote 22 Segment and Revenue Information\nOur primary profitability measurements to review a segments operating results are Earnings/(loss) from operations and operating margins. We\noperate in four reportable segments: BCA, BDS, BGS and BCC. All other activities fall within Unallocated items, eliminations and other. See\npage 58 for the Summary of Business Segment Data, which is an integral part of this note.\nBCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide. Revenue on commercial\naircraft contracts is recognized at the point in time when an aircraft is completed and accepted by the customer.\nBDS engages in the research, development, production and modification of the following products and related services: manned and unmanned\nmilitary aircraft and weapons systems, surveillance and engagement, strategic defense and intelligence systems, satellite systems and space\nexploration. BDS revenue is generally recognized over the contract term (over time) as costs are incurred.\nBGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and\ngovernment customers worldwide. BGS segment revenue and costs include certain products and services provided to other segments. Revenue\non commercial spare parts contracts is recognized at the point in time when a spare part is delivered to the customer. Revenue on other\ncontracts is generally recognized over the contract term (over time) as costs are incurred.\nBCC facilitates, arranges, structures and provides selective financing solutions for our customers.\n109\n"
270 }
271 ]
272 }
273 },
274 {
275 "key_content": {
276 "reference": [
277 "Derivative Instruments \nWe enter into derivative transactions primarily to manage our exposure to fluctuations in foreign currency exchange rates and interest rates. \nWe employ risk management strategies, which may include the use of a variety of derivatives including interest rate swaps, cross currency \nswaps, forward starting interest rate swaps, treasury rate locks, interest rate caps, swaptions and foreign exchange forwards. We do not hold \nderivatives for trading purposes. \nThe following table sets forth the notional amounts of our outstanding derivative instruments: \n(dollars in millions) \nAt December 31,\n2021\n2020 \nInterest rate swaps\n$ \n19,779 \n$ \n17,768 \nCross currency swaps\n32,502 \n26,288 \nForward starting interest rate swaps\n1,000 \n2,000 \nForeign exchange forwards\n932 \n1,405"
278 ],
279 "reference_idx": [
280 52084
281 ],
282 "question": "Among all of the derivative instruments that Verizon used to manage the exposure to fluctuations of foreign currencies exchange rates or interest rates, which one had the highest notional value in FY 2021?",
283 "answer": "Cross currency swaps. Its notional value was $32,502 million."
284 },
285 "other_info": {
286 "financebench_id": "financebench_id_00859",
287 "company": "Verizon",
288 "doc_name": "VERIZON_2021_10K",
289 "question_type": "novel-generated",
290 "question_reasoning": null,
291 "domain_question_num": null,
292 "question": "Among all of the derivative instruments that Verizon used to manage the exposure to fluctuations of foreign currencies exchange rates or interest rates, which one had the highest notional value in FY 2021?",
293 "answer": "Cross currency swaps. Its notional value was $32,502 million.",
294 "justification": "The derivative instruments used to mangae the exposure were interest rate swaps, cross currency swaps, forward starting interest rate swaps, and foreign exchange forwards. 32502 > 19779 > 1000 > 932",
295 "dataset_subset_label": "OPEN_SOURCE",
296 "evidence": [
297 {
298 "evidence_text": "Derivative Instruments \nWe enter into derivative transactions primarily to manage our exposure to fluctuations in foreign currency exchange rates and interest rates. \nWe employ risk management strategies, which may include the use of a variety of derivatives including interest rate swaps, cross currency \nswaps, forward starting interest rate swaps, treasury rate locks, interest rate caps, swaptions and foreign exchange forwards. We do not hold \nderivatives for trading purposes. \nThe following table sets forth the notional amounts of our outstanding derivative instruments: \n(dollars in millions) \nAt December 31,\n2021\n2020 \nInterest rate swaps\n$ \n19,779 \n$ \n17,768 \nCross currency swaps\n32,502 \n26,288 \nForward starting interest rate swaps\n1,000 \n2,000 \nForeign exchange forwards\n932 \n1,405",
299 "doc_name": "VERIZON_2021_10K",
300 "evidence_page_num": 84,
301 "evidence_text_full_page": "Certain of our equity investments do not have readily determinable fair values and are excluded from the tables above. Such investments are \nmeasured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical \nor similar investment of the same issuer and are included in Investments in unconsolidated businesses in our consolidated balance sheets. As \nof December 31, 2021 and December 31, 2020, the carrying amount of our investments without readily determinable fair values were \n$808 million and $402 million, respectively. During 2021, there were approximately $66 million of adjustments due to observable price \nchanges and insignificant impairment charges. Cumulative adjustments due to observable price changes and impairment charges were \napproximately $143 million and $63 million, respectively. \nVerizon has a liability for contingent consideration related to its acquisition of Tracfone, completed in November 2021. The fair value is \ncalculated using a probability-weighted discounted cash flow model and represents a Level 3 measurement. Level 3 instruments include \nvaluation based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other \nmarket participants. Subsequent to the acquisition date, at each reporting date, the contingent consideration liability is remeasured to fair \nvalue with changes recorded within Selling, general and administrative expense in our consolidated statements of income. \nFixed income securities consist primarily of investments in municipal bonds. The valuation of the fixed income securities are based on the \nquoted prices for similar assets in active markets or identical assets in inactive markets or models that apply inputs from observable market \ndata. The valuation determines that these securities are classified as Level 2. \nDerivative contracts are valued using models based on readily observable market parameters for all substantial terms of our derivative \ncontracts and thus are classified within Level 2. We use mid-market pricing for fair value measurements of our derivative instruments. Our \nderivative instruments are recorded on a gross basis. \nWe recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. \nFair Value of Short-term and Long-term Debt \nThe fair value of our debt is determined using various methods, including quoted prices for identical debt instruments, which is a Level 1 \nmeasurement, as well as quoted prices for similar debt instruments with comparable terms and maturities, which is a Level 2 measurement. \nThe fair value of our short-term and long-term debt, excluding finance leases, was as follows: \nFair Value \n(dollars in millions) \nCarrying \nAmount\nLevel 1\nLevel 2\nLevel 3\nTotal \nAt December 31, 2020\n$ \n127,778 \n$ \n103,967 \n$ \n52,785 \n$ \n $ \n156,752 \nAt December 31, 2021\n149,543 \n106,599 \n62,606 \n \n169,205 \nDerivative Instruments \nWe enter into derivative transactions primarily to manage our exposure to fluctuations in foreign currency exchange rates and interest rates. \nWe employ risk management strategies, which may include the use of a variety of derivatives including interest rate swaps, cross currency \nswaps, forward starting interest rate swaps, treasury rate locks, interest rate caps, swaptions and foreign exchange forwards. We do not hold \nderivatives for trading purposes. \nThe following table sets forth the notional amounts of our outstanding derivative instruments: \n(dollars in millions) \nAt December 31,\n2021\n2020 \nInterest rate swaps\n$ \n19,779 \n$ \n17,768 \nCross currency swaps\n32,502 \n26,288 \nForward starting interest rate swaps\n1,000 \n2,000 \nForeign exchange forwards\n932 \n1,405 \n85\nVerizon 2021 Annual Report on Form 10-K\n"
302 }
303 ]
304 }
305 },
306 {
307 "key_content": {
308 "reference": [
309 "The Boeing Company and Subsidiaries\nConsolidated Statements of Operations\n(Dollars in millions, except per share data)\n \n \n \nYears ended December 31,\n2022\n2021\n2020\nSales of products\n$55,893 \n$51,386 \n$47,142 \nSales of services\n10,715 \n10,900 \n11,016 \nTotal revenues\n66,608 \n62,286 \n58,158 \nCost of products\n(53,969)\n(49,954)\n(54,568)\nCost of services\n(9,109)\n(9,283)\n(9,232)\nBoeing Capital interest expense\n(28)\n(32)\n(43)\nTotal costs and expenses\n(63,106)\n(59,269)\n(63,843)\n3,502 \n3,017 \n(5,685)"
310 ],
311 "reference_idx": [
312 16828
313 ],
314 "question": "Does Boeing have an improving gross margin profile as of FY2022? If gross margin is not a useful metric for a company like this, then state that and explain why.",
315 "answer": "Yes. Boeing has an improving gross margin profile as of FY2022. Gross profit improved from $3,017 million in FY2021 to $3,502 million in FY2022. Gross margin % improved from 4.8% in FY2021 to 5.3% in FY2022."
316 },
317 "other_info": {
318 "financebench_id": "financebench_id_00678",
319 "company": "Boeing",
320 "doc_name": "BOEING_2022_10K",
321 "question_type": "domain-relevant",
322 "question_reasoning": "Numerical reasoning OR information extraction",
323 "domain_question_num": "dg13",
324 "question": "Does Boeing have an improving gross margin profile as of FY2022? If gross margin is not a useful metric for a company like this, then state that and explain why.",
325 "answer": "Yes. Boeing has an improving gross margin profile as of FY2022. Gross profit improved from $3,017 million in FY2021 to $3,502 million in FY2022. Gross margin % improved from 4.8% in FY2021 to 5.3% in FY2022.",
326 "justification": "Gross margin%=Gross margin/Total revenues*100=3,502/66,608*100=5.3% for 2022 and 3,017/62,286*100=4.8% for 2021.",
327 "dataset_subset_label": "OPEN_SOURCE",
328 "evidence": [
329 {
330 "evidence_text": "The Boeing Company and Subsidiaries\nConsolidated Statements of Operations\n(Dollars in millions, except per share data)\n \n \n \nYears ended December 31,\n2022\n2021\n2020\nSales of products\n$55,893 \n$51,386 \n$47,142 \nSales of services\n10,715 \n10,900 \n11,016 \nTotal revenues\n66,608 \n62,286 \n58,158 \nCost of products\n(53,969)\n(49,954)\n(54,568)\nCost of services\n(9,109)\n(9,283)\n(9,232)\nBoeing Capital interest expense\n(28)\n(32)\n(43)\nTotal costs and expenses\n(63,106)\n(59,269)\n(63,843)\n3,502 \n3,017 \n(5,685)",
331 "doc_name": "BOEING_2022_10K",
332 "evidence_page_num": 54,
333 "evidence_text_full_page": "Table of Contents\nThe Boeing Company and Subsidiaries\nConsolidated Statements of Operations\n(Dollars in millions, except per share data)\n \n \n \nYears ended December 31,\n2022\n2021\n2020\nSales of products\n$55,893 \n$51,386 \n$47,142 \nSales of services\n10,715 \n10,900 \n11,016 \nTotal revenues\n66,608 \n62,286 \n58,158 \nCost of products\n(53,969)\n(49,954)\n(54,568)\nCost of services\n(9,109)\n(9,283)\n(9,232)\nBoeing Capital interest expense\n(28)\n(32)\n(43)\nTotal costs and expenses\n(63,106)\n(59,269)\n(63,843)\n3,502 \n3,017 \n(5,685)\n(Loss)/income from operating investments, net\n(16)\n210 \n9 \nGeneral and administrative expense\n(4,187)\n(4,157)\n(4,817)\nResearch and development expense, net\n(2,852)\n(2,249)\n(2,476)\nGain on dispositions, net\n6 \n277 \n202 \nLoss from operations\n(3,547)\n(2,902)\n(12,767)\nOther income, net\n1,058 \n551 \n447 \nInterest and debt expense\n(2,533)\n(2,682)\n(2,156)\nLoss before income taxes\n(5,022)\n(5,033)\n(14,476)\nIncome tax (expense)/benefit\n(31)\n743 \n2,535 \nNet loss\n(5,053)\n(4,290)\n(11,941)\nLess: net loss attributable to noncontrolling interest\n(118)\n(88)\n(68)\nNet loss attributable to Boeing Shareholders\n($4,935)\n($4,202)\n($11,873)\nBasic loss per share\n($8.30)\n($7.15)\n($20.88)\nDiluted loss per share\n($8.30)\n($7.15)\n($20.88)\nSee Notes to the Consolidated Financial Statements on pages 59 - 114.\n53\n"
334 }
335 ]
336 }
337 },
338 {
339 "key_content": {
340 "reference": [
341 "Forward-Looking Statements\nThis Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute\nforward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act).\nStatements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the\ninclusion of words such as aim, anticipate, believe, drive, estimate, expect, expressed confidence, forecast,\nfuture, goal, guidance, intend, may, objective, outlook, plan, position, potential, project, seek,\nshould, strategy, target, will or similar statements or variations of such words and other similar expressions. All\nstatements addressing our future operating performance, and statements addressing events and developments that we expect or\nanticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking\nstatements are based on currently available information, operating plans and projections about future events and trends. They\ninherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such\nforward-looking statement. These risks and uncertainties include, but are not limited to, those described in Item 1A. Risk\nFactors and Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations Our Business\n Our Business Risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak\nonly as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of\nnew information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to\nhighlight what we believe are important factors to consider when evaluating our future performance.\nPART I\nItem 1. Business.\nWhen used in this report, the terms we, us, our, PepsiCo and the Company mean PepsiCo, Inc. and its consolidated\nsubsidiaries, collectively. Certain terms used in this Annual Report on Form 10-K are defined in the Glossary included in Item 7.\nof this report.\nCompany Overview\nWe were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. We are a leading global beverage and\nconvenient food company with a complementary portfolio of brands, including Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola,\nMountain Dew, Quaker and SodaStream. Through our operations, authorized bottlers, contract manufacturers and other third\nparties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers\nin more than 200 countries and territories.\nOur Operations\nWe are organized into seven reportable segments (also referred to as divisions), as follows:\n1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and\nCanada;\n2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta\nand other branded food, in the United States and Canada;\n3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada;\n4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America;\n5) Europe, which includes all of our beverage and convenient food businesses in Europe;",
342 "6) Africa, Middle East and South Asia (AMESA), which includes all of our beverage and convenient food businesses in\nAfrica, the Middle East and South Asia; and\n7) Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of our beverage and convenient\nfood businesses in Asia Pacific, Australia and New Zealand, and China region."
343 ],
344 "reference_idx": [
345 44408,
346 44409
347 ],
348 "question": "What are the geographies that Pepsico primarily operates in as of FY2022?",
349 "answer": "As of FY2022, Pepsico primarily operates in the following geographies: North America, Latin America, Europe, Africa, Middle East, South Asia, Asia Pacific, Australia, New Zealand and China."
350 },
351 "other_info": {
352 "financebench_id": "financebench_id_01009",
353 "company": "PepsiCo",
354 "doc_name": "PEPSICO_2022_10K",
355 "question_type": "domain-relevant",
356 "question_reasoning": "Information extraction",
357 "domain_question_num": "dg08",
358 "question": "What are the geographies that Pepsico primarily operates in as of FY2022?",
359 "answer": "As of FY2022, Pepsico primarily operates in the following geographies: North America, Latin America, Europe, Africa, Middle East, South Asia, Asia Pacific, Australia, New Zealand and China.",
360 "justification": null,
361 "dataset_subset_label": "OPEN_SOURCE",
362 "evidence": [
363 {
364 "evidence_text": "Forward-Looking Statements\nThis Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute\nforward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act).\nStatements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the\ninclusion of words such as aim, anticipate, believe, drive, estimate, expect, expressed confidence, forecast,\nfuture, goal, guidance, intend, may, objective, outlook, plan, position, potential, project, seek,\nshould, strategy, target, will or similar statements or variations of such words and other similar expressions. All\nstatements addressing our future operating performance, and statements addressing events and developments that we expect or\nanticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking\nstatements are based on currently available information, operating plans and projections about future events and trends. They\ninherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such\nforward-looking statement. These risks and uncertainties include, but are not limited to, those described in Item 1A. Risk\nFactors and Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations Our Business\n Our Business Risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak\nonly as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of\nnew information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to\nhighlight what we believe are important factors to consider when evaluating our future performance.\nPART I\nItem 1. Business.\nWhen used in this report, the terms we, us, our, PepsiCo and the Company mean PepsiCo, Inc. and its consolidated\nsubsidiaries, collectively. Certain terms used in this Annual Report on Form 10-K are defined in the Glossary included in Item 7.\nof this report.\nCompany Overview\nWe were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. We are a leading global beverage and\nconvenient food company with a complementary portfolio of brands, including Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola,\nMountain Dew, Quaker and SodaStream. Through our operations, authorized bottlers, contract manufacturers and other third\nparties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers\nin more than 200 countries and territories.\nOur Operations\nWe are organized into seven reportable segments (also referred to as divisions), as follows:\n1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and\nCanada;\n2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta\nand other branded food, in the United States and Canada;\n3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada;\n4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America;\n5) Europe, which includes all of our beverage and convenient food businesses in Europe;",
365 "doc_name": "PEPSICO_2022_10K",
366 "evidence_page_num": 3,
367 "evidence_text_full_page": "Table of Contents\nForward-Looking Statements\nThis Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute\nforward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act).\nStatements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the\ninclusion of words such as aim, anticipate, believe, drive, estimate, expect, expressed confidence, forecast,\nfuture, goal, guidance, intend, may, objective, outlook, plan, position, potential, project, seek,\nshould, strategy, target, will or similar statements or variations of such words and other similar expressions. All\nstatements addressing our future operating performance, and statements addressing events and developments that we expect or\nanticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking\nstatements are based on currently available information, operating plans and projections about future events and trends. They\ninherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such\nforward-looking statement. These risks and uncertainties include, but are not limited to, those described in Item 1A. Risk\nFactors and Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations Our Business\n Our Business Risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak\nonly as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of\nnew information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to\nhighlight what we believe are important factors to consider when evaluating our future performance.\nPART I\nItem 1. Business.\nWhen used in this report, the terms we, us, our, PepsiCo and the Company mean PepsiCo, Inc. and its consolidated\nsubsidiaries, collectively. Certain terms used in this Annual Report on Form 10-K are defined in the Glossary included in Item 7.\nof this report.\nCompany Overview\nWe were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. We are a leading global beverage and\nconvenient food company with a complementary portfolio of brands, including Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola,\nMountain Dew, Quaker and SodaStream. Through our operations, authorized bottlers, contract manufacturers and other third\nparties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers\nin more than 200 countries and territories.\nOur Operations\nWe are organized into seven reportable segments (also referred to as divisions), as follows:\n1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and\nCanada;\n2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta\nand other branded food, in the United States and Canada;\n3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada;\n4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America;\n5) Europe, which includes all of our beverage and convenient food businesses in Europe;\n2\n"
368 },
369 {
370 "evidence_text": "6) Africa, Middle East and South Asia (AMESA), which includes all of our beverage and convenient food businesses in\nAfrica, the Middle East and South Asia; and\n7) Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of our beverage and convenient\nfood businesses in Asia Pacific, Australia and New Zealand, and China region.",
371 "doc_name": "PEPSICO_2022_10K",
372 "evidence_page_num": 4,
373 "evidence_text_full_page": "Table of Contents\n6) Africa, Middle East and South Asia (AMESA), which includes all of our beverage and convenient food businesses in\nAfrica, the Middle East and South Asia; and\n7) Asia Pacific, Australia and New Zealand and China Region (APAC), which includes all of our beverage and convenient\nfood businesses in Asia Pacific, Australia and New Zealand, and China region.\nFrito-Lay North America\nEither independently or in conjunction with third parties, FLNA makes, markets, distributes and sells branded convenient\nfoods. These foods include branded dips, Cheetos cheese-flavored snacks, Doritos tortilla chips, Fritos corn chips, Lays potato\nchips, Ruffles potato chips and Tostitos tortilla chips. FLNAs branded products are sold to independent distributors and retailers.\nIn addition, FLNAs joint venture with Strauss Group makes, markets, distributes and sells Sabra refrigerated dips and spreads.\nQuaker Foods North America\nEither independently or in conjunction with third parties, QFNA makes, markets, distributes and sells branded convenient foods,\nwhich include cereals, rice, pasta and other branded products. QFNAs products include Capn Crunch cereal, Life cereal, Pearl\nMilling Company syrups and mixes, Quaker Chewy granola bars, Quaker grits, Quaker oatmeal, Quaker rice cakes, Quaker\nSimply Granola and Rice-A-Roni side dishes. QFNAs branded products are sold to independent distributors and retailers.\nPepsiCo Beverages North America\nEither independently or in conjunction with third parties, PBNA makes, markets and sells beverage concentrates, fountain syrups\nand finished goods under various beverage brands including Aquafina, Diet Mountain Dew, Diet Pepsi, Gatorade, Gatorade Zero,\nMountain Dew, Pepsi and Propel. PBNA operates its own bottling plants and distribution facilities and sells branded finished\ngoods directly to independent distributors and retailers. PBNA also sells concentrate and finished goods for our brands to\nauthorized and independent bottlers, who in turn sell our branded finished goods to independent distributors and retailers in\ncertain markets. PBNA also, either independently or in conjunction with third parties, makes, markets, distributes and sells ready-\nto-drink tea and coffee products through joint ventures with Unilever (under the Lipton brand name) and Starbucks, respectively.\nFurther, PBNA manufactures and distributes certain brands licensed from Keurig Dr Pepper Inc., including Crush, Dr Pepper and\nSchweppes, and certain juice brands licensed from Dole Food Company, Inc. and Ocean Spray Cranberries, Inc. In 2022, PBNA\nbegan to distribute Hard MTN Dew, an alcoholic beverage manufactured and owned by the Boston Beer Company. In the first\nquarter of 2022, we sold our Tropicana, Naked and other select juice brands to PAI Partners, while retaining a 39%\nnoncontrolling interest in a newly formed joint venture, Tropicana Brands Group (TBG), operating across North America and\nEurope (Juice Transaction). In the United States, PepsiCo acts as the exclusive distributor for TBGs portfolio of brands for\nsmall-format and foodservice customers with chilled direct-store-delivery (DSD). See Note 13 to our consolidated financial\nstatements for further information.\nLatin America\nEither independently or in conjunction with third parties, LatAm makes, markets, distributes and sells a number of convenient\nfood brands including Cheetos, Doritos, Emperador, Lays, Marias Gamesa, Ruffles, Sabritas, Saladitas and Tostitos, as well as\nmany Quaker-branded convenient foods. LatAm also, either independently or in conjunction with third parties, makes, markets,\ndistributes and sells beverage concentrates, fountain syrups and finished goods under various beverage brands including 7UP,\nDiet 7UP, Gatorade, H2oh!, Manzanita Sol, Mirinda, Pepsi, Pepsi Black, San Carlos and Toddy. These branded products are sold\nto authorized and independent bottlers, independent distributors and retailers. LatAm\n3\n"
374 }
375 ]
376 }
377 },
378 {
379 "key_content": {
380 "reference": [
381 "Table of Contents\nThe Boeing Company and Subsidiaries\nConsolidated Statements of Financial Position \n(Dollarsinmillions,exceptpersharedata)\n\n \nDecember 31,\n2018\n\n2017\nAssets\n\n \nCash and cash equivalents\n$7,637\n\n$8,813\nShort-term and other investments\n927\n\n1,179\nAccounts receivable, net\n3,879\n\n2,894\nUnbilled receivables, net\n10,025\n\n8,194\nCurrent portion of customer financing, net\n460\n\n309\nInventories\n62,567\n\n61,388\nOther current assets\n2,335\n\n2,417\nTotal current assets\n87,830\n\n85,194\nCustomer financing, net\n2,418\n\n2,756\nProperty, plant and equipment, net\n12,645\n\n12,672\nGoodwill\n7,840\n\n5,559\nAcquired intangible assets, net\n3,429\n\n2,573\nDeferred income taxes\n284\n\n321\nInvestments\n1,087\n\n1,260\nOther assets, net of accumulated amortization of $503 and $482\n1,826\n\n2,027\nTotal assets\n$117,359\n\n$112,362\nLiabilities and equity\n\n \nAccounts payable\n$12,916\n\n$12,202\nAccrued liabilities\n14,808\n\n13,069\nAdvances and progress billings\n50,676\n\n48,042\nShort-term debt and current portion of long-term debt\n3,190\n\n1,335\nTotal current liabilities\n81,590\n\n74,648\nDeferred income taxes\n1,736\n\n2,188\nAccrued retiree health care\n4,584\n\n5,545\nAccrued pension plan liability, net\n15,323\n\n16,471\nOther long-term liabilities\n3,059\n\n2,015\nLong-term debt\n10,657\n\n9,782\nShareholders equity:\n\n \nCommon stock, par value $5.00 1,200,000,000 shares authorized; 1,012,261,159 shares issued\n5,061\n\n5,061\nAdditional paid-in capital\n6,768\n\n6,804\nTreasury stock, at cost\n(52,348) \n(43,454)\nRetained earnings\n55,941\n\n49,618\nAccumulated other comprehensive loss\n(15,083) \n(16,373)\nTotal shareholders equity\n339\n\n1,656\nNoncontrolling interests\n71\n\n57\nTotal equity\n410\n\n1,713\nTotal liabilities and equity\n$117,359\n\n$112,362\nSee Notes to the Consolidated Financial Statements on pages 54 113 .\n50"
382 ],
383 "reference_idx": [
384 16169
385 ],
386 "question": "We need to calculate a financial metric by using information only provided within the balance sheet. Please answer the following question: what is Boeing's year end FY2018 net property, plant, and equipment (in USD millions)?",
387 "answer": "$12645.00"
388 },
389 "other_info": {
390 "financebench_id": "financebench_id_10285",
391 "company": "Boeing",
392 "doc_name": "BOEING_2018_10K",
393 "question_type": "metrics-generated",
394 "question_reasoning": "Information extraction",
395 "domain_question_num": null,
396 "question": "We need to calculate a financial metric by using information only provided within the balance sheet. Please answer the following question: what is Boeing's year end FY2018 net property, plant, and equipment (in USD millions)?",
397 "answer": "$12645.00",
398 "justification": "The metric ppne, net was directly extracted from the company 10K. The line item name, as seen in the 10K, was: Property, plant and equipment, net.",
399 "dataset_subset_label": "OPEN_SOURCE",
400 "evidence": [
401 {
402 "evidence_text": "Table of Contents\nThe Boeing Company and Subsidiaries\nConsolidated Statements of Financial Position \n(Dollarsinmillions,exceptpersharedata)\n\n \nDecember 31,\n2018\n\n2017\nAssets\n\n \nCash and cash equivalents\n$7,637\n\n$8,813\nShort-term and other investments\n927\n\n1,179\nAccounts receivable, net\n3,879\n\n2,894\nUnbilled receivables, net\n10,025\n\n8,194\nCurrent portion of customer financing, net\n460\n\n309\nInventories\n62,567\n\n61,388\nOther current assets\n2,335\n\n2,417\nTotal current assets\n87,830\n\n85,194\nCustomer financing, net\n2,418\n\n2,756\nProperty, plant and equipment, net\n12,645\n\n12,672\nGoodwill\n7,840\n\n5,559\nAcquired intangible assets, net\n3,429\n\n2,573\nDeferred income taxes\n284\n\n321\nInvestments\n1,087\n\n1,260\nOther assets, net of accumulated amortization of $503 and $482\n1,826\n\n2,027\nTotal assets\n$117,359\n\n$112,362\nLiabilities and equity\n\n \nAccounts payable\n$12,916\n\n$12,202\nAccrued liabilities\n14,808\n\n13,069\nAdvances and progress billings\n50,676\n\n48,042\nShort-term debt and current portion of long-term debt\n3,190\n\n1,335\nTotal current liabilities\n81,590\n\n74,648\nDeferred income taxes\n1,736\n\n2,188\nAccrued retiree health care\n4,584\n\n5,545\nAccrued pension plan liability, net\n15,323\n\n16,471\nOther long-term liabilities\n3,059\n\n2,015\nLong-term debt\n10,657\n\n9,782\nShareholders equity:\n\n \nCommon stock, par value $5.00 1,200,000,000 shares authorized; 1,012,261,159 shares issued\n5,061\n\n5,061\nAdditional paid-in capital\n6,768\n\n6,804\nTreasury stock, at cost\n(52,348) \n(43,454)\nRetained earnings\n55,941\n\n49,618\nAccumulated other comprehensive loss\n(15,083) \n(16,373)\nTotal shareholders equity\n339\n\n1,656\nNoncontrolling interests\n71\n\n57\nTotal equity\n410\n\n1,713\nTotal liabilities and equity\n$117,359\n\n$112,362\nSee Notes to the Consolidated Financial Statements on pages 54 113 .\n50",
403 "doc_name": "BOEING_2018_10K",
404 "evidence_page_num": 51,
405 "evidence_text_full_page": "Table of Contents\nThe Boeing Company and Subsidiaries\nConsolidated Statements of Financial Position \n(Dollarsinmillions,exceptpersharedata)\n\n \nDecember 31,\n2018\n\n2017\nAssets\n\n \nCash and cash equivalents\n$7,637\n\n$8,813\nShort-term and other investments\n927\n\n1,179\nAccounts receivable, net\n3,879\n\n2,894\nUnbilled receivables, net\n10,025\n\n8,194\nCurrent portion of customer financing, net\n460\n\n309\nInventories\n62,567\n\n61,388\nOther current assets\n2,335\n\n2,417\nTotal current assets\n87,830\n\n85,194\nCustomer financing, net\n2,418\n\n2,756\nProperty, plant and equipment, net\n12,645\n\n12,672\nGoodwill\n7,840\n\n5,559\nAcquired intangible assets, net\n3,429\n\n2,573\nDeferred income taxes\n284\n\n321\nInvestments\n1,087\n\n1,260\nOther assets, net of accumulated amortization of $503 and $482\n1,826\n\n2,027\nTotal assets\n$117,359\n\n$112,362\nLiabilities and equity\n\n \nAccounts payable\n$12,916\n\n$12,202\nAccrued liabilities\n14,808\n\n13,069\nAdvances and progress billings\n50,676\n\n48,042\nShort-term debt and current portion of long-term debt\n3,190\n\n1,335\nTotal current liabilities\n81,590\n\n74,648\nDeferred income taxes\n1,736\n\n2,188\nAccrued retiree health care\n4,584\n\n5,545\nAccrued pension plan liability, net\n15,323\n\n16,471\nOther long-term liabilities\n3,059\n\n2,015\nLong-term debt\n10,657\n\n9,782\nShareholders equity:\n\n \nCommon stock, par value $5.00 1,200,000,000 shares authorized; 1,012,261,159 shares issued\n5,061\n\n5,061\nAdditional paid-in capital\n6,768\n\n6,804\nTreasury stock, at cost\n(52,348) \n(43,454)\nRetained earnings\n55,941\n\n49,618\nAccumulated other comprehensive loss\n(15,083) \n(16,373)\nTotal shareholders equity\n339\n\n1,656\nNoncontrolling interests\n71\n\n57\nTotal equity\n410\n\n1,713\nTotal liabilities and equity\n$117,359\n\n$112,362\nSee Notes to the Consolidated Financial Statements on pages 54 113 .\n50\n"
406 }
407 ]
408 }
409 },
410 {
411 "key_content": {
412 "reference": [
413 "Usual and Customary Pricing Litigation\nThe Company and certain current and former directors and officers are named as a defendant in a number of lawsuits that allege that the Companys retail\npharmacies overcharged for prescription drugs by not submitting the correct usual and customary price during the claims adjudication process.",
414 "The Company is facing multiple lawsuits, including by state Attorneys General, governmental subdivisions and several putative class actions, regarding drug\npricing and its rebate arrangements with drug manufacturers. These complaints, brought by a number of different types of plaintiffs under a variety of legal\ntheories, generally allege that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products.",
415 "In December 2022, the Company agreed to a formal settlement agreement, the financial amounts of which were agreed to in principle in October 2022, with a\nleadership group of a number of state Attorneys General and the Plaintiffs Executive Committee (PEC). The agreement would resolve substantially all\nopioid claims against Company entities by states and political subdivisions, but not private plaintiffs. The maximum amount payable by the Company under the\nsettlement would be approximately $4.3 billion in opioid remediation and $625 million in attorneys fees and costs and additional remediation. The amounts\nwould be payable over 10 years, beginning in 2023."
416 ],
417 "reference_idx": [
418 22731,
419 22731,
420 22732
421 ],
422 "question": "Has CVS Health reported any materially important ongoing legal battles from 2022, 2021 and 2020?",
423 "answer": "Yes, CVS Health has been involved in multiple ongoing legal battles. Some notable legal dispute areas for CVS are: (1) usual and customary pricing litigation: where it's claimed that CVS\u00e2\u0080\u0099s retail pharmacies overcharged for prescription drugs; (2) PBM litigation and investigations: where it's claimed that that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products; and (3) controlled substances litigation: legal matters around opioids for which CVS has agreed to pay up to $4.3 billion to claimants in remediation and $625 million to attorneys and fees"
424 },
425 "other_info": {
426 "financebench_id": "financebench_id_01107",
427 "company": "CVS Health",
428 "doc_name": "CVSHEALTH_2022_10K",
429 "question_type": "domain-relevant",
430 "question_reasoning": "Information extraction",
431 "domain_question_num": "dg11",
432 "question": "Has CVS Health reported any materially important ongoing legal battles from 2022, 2021 and 2020?",
433 "answer": "Yes, CVS Health has been involved in multiple ongoing legal battles. Some notable legal dispute areas for CVS are: (1) usual and customary pricing litigation: where it's claimed that CVS\u00e2\u0080\u0099s retail pharmacies overcharged for prescription drugs; (2) PBM litigation and investigations: where it's claimed that that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products; and (3) controlled substances litigation: legal matters around opioids for which CVS has agreed to pay up to $4.3 billion to claimants in remediation and $625 million to attorneys and fees",
434 "justification": null,
435 "dataset_subset_label": "OPEN_SOURCE",
436 "evidence": [
437 {
438 "evidence_text": "Usual and Customary Pricing Litigation\nThe Company and certain current and former directors and officers are named as a defendant in a number of lawsuits that allege that the Companys retail\npharmacies overcharged for prescription drugs by not submitting the correct usual and customary price during the claims adjudication process.",
439 "doc_name": "CVSHEALTH_2022_10K",
440 "evidence_page_num": 172,
441 "evidence_text_full_page": "to be class actions and/or involve parties seeking large and/or indeterminate amounts, including punitive or exemplary damages, and may remain unresolved\nfor several years. The Company also may be named from time to time in qui tam actions initiated by private third parties that could also be separately pursued\nby a governmental body. The results of legal proceedings, including government investigations, are often uncertain and difficult to predict, and the costs\nincurred in these matters can be substantial, regardless of the outcome.\nThe Company records accruals for outstanding legal matters when it believes it is probable that a loss will be incurred and the amount can be reasonably\nestimated. The Company evaluates, on a quarterly basis, developments in legal matters that could affect the amount of any accrual and developments that\nwould make a loss contingency both probable and reasonably estimable. If a loss contingency is not both probable and reasonably estimable, the Company\ndoes not establish an accrued liability. None of the Companys accruals for outstanding legal matters are material individually or in the aggregate to the\nCompanys financial condition.\nExcept as otherwise noted, the Company cannot predict with certainty the timing or outcome of the legal matters described below, and the Company is unable\nto reasonably estimate a possible loss or range of possible loss in excess of amounts already accrued for these matters. The Company believes that its defenses\nand assertions in pending legal proceedings have merit and does not believe that any of these pending matters, after consideration of applicable reserves and\nrights to indemnification, will have a material adverse effect on the Companys financial position. Substantial unanticipated verdicts, fines and rulings,\nhowever, do sometimes occur, which could result in judgments against the Company, entry into settlements or a revision to its expectations regarding the\noutcome of certain matters, and such developments could have a material adverse effect on its results of operations. In addition, as a result of governmental\ninvestigations or proceedings, the Company may be subject to damages, civil or criminal fines or penalties, or other sanctions including possible suspension or\nloss of licensure and/or exclusion from participating in government programs. The outcome of such governmental investigations of proceedings could be\nmaterial to the Company.\nUsual and Customary Pricing Litigation\nThe Company and certain current and former directors and officers are named as a defendant in a number of lawsuits that allege that the Companys retail\npharmacies overcharged for prescription drugs by not submitting the correct usual and customary price during the claims adjudication process. These actions\nare brought by a number of different types of plaintiffs, including plan members, private payors, government payors, and shareholders based on different legal\ntheories. Some of these cases are brought as putative class actions, and in some instances, classes have been certified. In October 2022, one of the litigating\nshareholders made a litigation demand to the Board related to these and other issues after his amended derivative complaint was dismissed for failing to\ndemonstrate demand futility. The Company is defending itself against these claims.\nPBM Litigation and Investigations\nThe Company is named as a defendant in a number of lawsuits and is subject to a number of investigations concerning its PBM practices.\nThe Company is facing multiple lawsuits, including by state Attorneys General, governmental subdivisions and several putative class actions, regarding drug\npricing and its rebate arrangements with drug manufacturers. These complaints, brought by a number of different types of plaintiffs under a variety of legal\ntheories, generally allege that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products. The Company is\ndefending itself against these claims. The Company has also received subpoenas, civil investigative demands (CIDs), and other requests for documents and\ninformation from, and is being investigated by, the FTC and Attorneys General of several states and the District of Columbia regarding its PBM practices,\nincluding pricing and rebates. The Company has been providing documents and information in response to these subpoenas, CIDs, and requests for\ninformation.\nUnited States ex rel. Behnke v. CVS Caremark Corporation, et al. (U.S. District Court for the Eastern District of Pennsylvania). In April 2018, the Court\nunsealed a complaint filed in February 2014. The government has declined to intervene in this case. The relator alleges that the Company submitted, or caused\nto be submitted, to Part D of the Medicare program Prescription Drug Event data and/or Direct and Indirect Remuneration reports that misrepresented true\nprices paid by the Companys PBM to pharmacies for drugs dispensed to Part D beneficiaries with prescription benefits administered by the Companys PBM.\nThe Company is defending itself against these claims.\n171\n"
442 },
443 {
444 "evidence_text": "The Company is facing multiple lawsuits, including by state Attorneys General, governmental subdivisions and several putative class actions, regarding drug\npricing and its rebate arrangements with drug manufacturers. These complaints, brought by a number of different types of plaintiffs under a variety of legal\ntheories, generally allege that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products.",
445 "doc_name": "CVSHEALTH_2022_10K",
446 "evidence_page_num": 172,
447 "evidence_text_full_page": "to be class actions and/or involve parties seeking large and/or indeterminate amounts, including punitive or exemplary damages, and may remain unresolved\nfor several years. The Company also may be named from time to time in qui tam actions initiated by private third parties that could also be separately pursued\nby a governmental body. The results of legal proceedings, including government investigations, are often uncertain and difficult to predict, and the costs\nincurred in these matters can be substantial, regardless of the outcome.\nThe Company records accruals for outstanding legal matters when it believes it is probable that a loss will be incurred and the amount can be reasonably\nestimated. The Company evaluates, on a quarterly basis, developments in legal matters that could affect the amount of any accrual and developments that\nwould make a loss contingency both probable and reasonably estimable. If a loss contingency is not both probable and reasonably estimable, the Company\ndoes not establish an accrued liability. None of the Companys accruals for outstanding legal matters are material individually or in the aggregate to the\nCompanys financial condition.\nExcept as otherwise noted, the Company cannot predict with certainty the timing or outcome of the legal matters described below, and the Company is unable\nto reasonably estimate a possible loss or range of possible loss in excess of amounts already accrued for these matters. The Company believes that its defenses\nand assertions in pending legal proceedings have merit and does not believe that any of these pending matters, after consideration of applicable reserves and\nrights to indemnification, will have a material adverse effect on the Companys financial position. Substantial unanticipated verdicts, fines and rulings,\nhowever, do sometimes occur, which could result in judgments against the Company, entry into settlements or a revision to its expectations regarding the\noutcome of certain matters, and such developments could have a material adverse effect on its results of operations. In addition, as a result of governmental\ninvestigations or proceedings, the Company may be subject to damages, civil or criminal fines or penalties, or other sanctions including possible suspension or\nloss of licensure and/or exclusion from participating in government programs. The outcome of such governmental investigations of proceedings could be\nmaterial to the Company.\nUsual and Customary Pricing Litigation\nThe Company and certain current and former directors and officers are named as a defendant in a number of lawsuits that allege that the Companys retail\npharmacies overcharged for prescription drugs by not submitting the correct usual and customary price during the claims adjudication process. These actions\nare brought by a number of different types of plaintiffs, including plan members, private payors, government payors, and shareholders based on different legal\ntheories. Some of these cases are brought as putative class actions, and in some instances, classes have been certified. In October 2022, one of the litigating\nshareholders made a litigation demand to the Board related to these and other issues after his amended derivative complaint was dismissed for failing to\ndemonstrate demand futility. The Company is defending itself against these claims.\nPBM Litigation and Investigations\nThe Company is named as a defendant in a number of lawsuits and is subject to a number of investigations concerning its PBM practices.\nThe Company is facing multiple lawsuits, including by state Attorneys General, governmental subdivisions and several putative class actions, regarding drug\npricing and its rebate arrangements with drug manufacturers. These complaints, brought by a number of different types of plaintiffs under a variety of legal\ntheories, generally allege that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products. The Company is\ndefending itself against these claims. The Company has also received subpoenas, civil investigative demands (CIDs), and other requests for documents and\ninformation from, and is being investigated by, the FTC and Attorneys General of several states and the District of Columbia regarding its PBM practices,\nincluding pricing and rebates. The Company has been providing documents and information in response to these subpoenas, CIDs, and requests for\ninformation.\nUnited States ex rel. Behnke v. CVS Caremark Corporation, et al. (U.S. District Court for the Eastern District of Pennsylvania). In April 2018, the Court\nunsealed a complaint filed in February 2014. The government has declined to intervene in this case. The relator alleges that the Company submitted, or caused\nto be submitted, to Part D of the Medicare program Prescription Drug Event data and/or Direct and Indirect Remuneration reports that misrepresented true\nprices paid by the Companys PBM to pharmacies for drugs dispensed to Part D beneficiaries with prescription benefits administered by the Companys PBM.\nThe Company is defending itself against these claims.\n171\n"
448 },
449 {
450 "evidence_text": "In December 2022, the Company agreed to a formal settlement agreement, the financial amounts of which were agreed to in principle in October 2022, with a\nleadership group of a number of state Attorneys General and the Plaintiffs Executive Committee (PEC). The agreement would resolve substantially all\nopioid claims against Company entities by states and political subdivisions, but not private plaintiffs. The maximum amount payable by the Company under the\nsettlement would be approximately $4.3 billion in opioid remediation and $625 million in attorneys fees and costs and additional remediation. The amounts\nwould be payable over 10 years, beginning in 2023.",
451 "doc_name": "CVSHEALTH_2022_10K",
452 "evidence_page_num": 173,
453 "evidence_text_full_page": "Controlled Substances Litigation, Audits and Subpoenas\nIn December 2017, the U.S. Judicial Panel on Multidistrict Litigation consolidated numerous cases filed against various defendants by plaintiffs such as\ncounties, cities, hospitals, Indian tribes and third-party payors, alleging claims beginning as far back as the early 2000s generally concerning the impacts of\nwidespread prescription opioid abuse. The consolidated multidistrict litigation captioned In re National Prescription Opiate Litigation (MDL No. 2804) is\npending in the U.S. District Court for the Northern District of Ohio. This multidistrict litigation presumptively includes hundreds of relevant federal court cases\nthat name the Company as a defendant. A significant number of similar cases that name the Company as a defendant in some capacity are pending in state\ncourts.\nIn addition, the Company has been named as a defendant in similar cases brought by certain state Attorneys General. The Company is defending itself against\nall such claims. Additionally, the Company has received subpoenas, CIDs, and/or other requests for information regarding opioids from state Attorneys General\nand insurance and other regulators of several U.S. jurisdictions. The Company has been cooperating with the government with respect to these subpoenas,\nCIDs, and other requests for information.\nIn November 2021, the Company was among the chain pharmacies found liable by a jury in a trial in federal court in Ohio; in August 2022, the court issued a\njudgment jointly against the three defendants in the amount of $651 million to be paid over 15 years, and also ordered certain injunctive relief. The Company is\nappealing the judgment and has not accrued a liability for this matter. In March 2022, CVS Health Corporation and CVS Pharmacy, Inc. entered into a\nsettlement agreement with the State of Florida to resolve claims related to opioid medications dating back more than a decade. Under the terms of the\nsettlement agreement, CVS Health Corporation settled all opioid claims against it and its subsidiaries by the State of Florida for $484 million, which is to be\npaid over a period of 18 years. During the three months ended March 31, 2022, the Company recorded a $484 million liability associated with this legal\nsettlement. In August 2022, CVS Pharmacy, Inc. entered into an agreement with the State of New Mexico to settle all opioid claims against it and its parents\nand subsidiaries by the State of New Mexico and participating subdivisions. In September 2022, CVS Pharmacy, Inc. entered into an agreement with the State\nof West Virginia to settle all opioid claims against it and its parents and subsidiaries by the State of West Virginia and participating subdivisions. Also in\nSeptember 2022, CVS Pharmacy, Inc. entered into an agreement with the Cherokee Nation to settle all opioid claims against it and its parents and subsidiaries\nby the Cherokee Nation.\nIn December 2022, the Company agreed to a formal settlement agreement, the financial amounts of which were agreed to in principle in October 2022, with a\nleadership group of a number of state Attorneys General and the Plaintiffs Executive Committee (PEC). The agreement would resolve substantially all\nopioid claims against Company entities by states and political subdivisions, but not private plaintiffs. The maximum amount payable by the Company under the\nsettlement would be approximately $4.3 billion in opioid remediation and $625 million in attorneys fees and costs and additional remediation. The amounts\nwould be payable over 10 years, beginning in 2023. The agreement also contains injunctive terms relating to the dispensing of opioid medications. The\nsettlement agreement is available at nationalopioidsettlement.com.\nUnder the settlement agreement, before the Company determines whether to enter into any final settlement, it will assess the number and identities of the\ngovernmental entities that will participate in any such settlement. The settlement agreement contemplates that if certain governmental entities do not agree to\nthe settlement, but the Company nonetheless concludes that there is sufficient participation to warrant going forward with the settlement, there would be a\ncorresponding reduction in the amount due from the Company to account for the governmental entities that did not agree. Those non-participating\ngovernmental entities would be entitled to pursue their claims against the Company and other defendants. Private plaintiff litigation will also continue.\nThe Company has been informed that 45 states, the District of Columbia, and all eligible United States territories have elected to join the settlement. Three\nstates were the subject of earlier settlements. The Company has elected to proceed with the settlement process based on that level of participation. The\nsettlement process will progress to the period during which subdivisions may elect to join.\nIn December 2022, the Company also agreed to a formal settlement agreement with a leadership group representing tribes throughout the United States. The\nagreement would resolve substantially all opioid claims against Company entities by such tribes. The maximum amount payable by the Company under the\nsettlement would be $113 million in opioid remediation and $18 million in attorneys fees and costs. The amounts would be payable over 10 years, beginning\nin 2023. The agreement is contingent upon sufficient participation by tribes.\n172\n"
454 }
455 ]
456 }
457 },
458 {
459 "key_content": {
460 "reference": [
461 "128 \nConsolidated Balance Sheets\nDecember 31, 2022 and 2021\n2022\n2021\n(in millions, except share and per share data)\nASSETS\nCURRENT ASSETS\nCash and cash equivalents\n$\n1,374 \n$\n943 \nRestricted cash\n536 \n304 \nShort-term investments\n730 \n232 \nAccounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively\n1,799 \n1,418 \nInventory\n1,055 \n604 \nPrepaid expenses\n98 \n142 \nOther current assets, net of CECL allowance of $2 and $0, respectively\n1,533 \n897 \nCurrent held-for-sale assets\n518 \n816 \nTotal current assets\n7,643 \n5,356 \nNONCURRENT ASSETS\nProperty, Plant and Equipment:\nLand\n470 \n426 \nElectric generation, distribution assets and other\n26,599 \n25,552 \nAccumulated depreciation\n(8,651)\n(8,486)\nConstruction in progress\n4,621 \n2,414 \nProperty, plant and equipment, net\n23,039 \n19,906 \nOther Assets:\nInvestments in and advances to affiliates\n952 \n1,080 \nDebt service reserves and other deposits\n177 \n237 \nGoodwill\n362 \n1,177 \nOther intangible assets, net of accumulated amortization of $434 and $385, respectively\n1,841 \n1,450 \nDeferred income taxes\n319 \n409 \nLoan receivable, net of allowance of $26\n1,051 \n \nOther noncurrent assets, net of allowance of $51 and $23, respectively\n2,979 \n2,188 \nNoncurrent held-for-sale assets\n \n1,160 \nTotal other assets\n7,681 \n7,701 \nTOTAL ASSETS\n$\n38,363 \n$\n32,963 \nLIABILITIES AND EQUITY\nCURRENT LIABILITIES\nAccounts payable\n$\n1,730 \n$\n1,153 \nAccrued interest\n249 \n182 \nAccrued non-income taxes\n249 \n266 \nAccrued and other liabilities\n2,151 \n1,205 \nNon-recourse debt, including $416 and $302, respectively, related to variable interest entities\n1,758 \n1,367 \nCurrent held-for-sale liabilities\n354 \n559 \nTotal current liabilities\n6,491 \n4,732 \nNONCURRENT LIABILITIES\nRecourse debt\n3,894 \n3,729 \nNon-recourse debt, including $2,295 and $2,223, respectively, related to variable interest entities\n17,846 \n13,603 \nDeferred income taxes\n1,139 \n977 \nOther noncurrent liabilities\n3,168 \n3,358 \nNoncurrent held-for-sale liabilities\n \n740 \nTotal noncurrent liabilities\n26,047 \n22,407 \nCommitments and Contingencies (see Notes 12 and 13)\nRedeemable stock of subsidiaries\n1,321 \n1,257 \nEQUITY\nTHE AES CORPORATION STOCKHOLDERS EQUITY\nPreferred stock (without par value, 50,000,000 shares authorized; 1,043,050 issued and outstanding at December 31, 2022 and\nDecember 31, 2021)\n838 \n838 \nCommon stock ($0.01 par value, 1,200,000,000 shares authorized; 818,790,001 issued and 668,743,464 outstanding at December\n31, 2022 and 818,717,043 issued and 666,793,625 outstanding at December 31, 2021)\n8 \n8 \nAdditional paid-in capital\n6,688 \n7,106 \nAccumulated deficit\n(1,635)\n(1,089)\nAccumulated other comprehensive loss\n(1,640)\n(2,220)\nTreasury stock, at cost (150,046,537 and 151,923,418 shares at December 31, 2022 and December 31, 2021, respectively)\n(1,822)\n(1,845)\nTotal AES Corporation stockholders equity\n2,437 \n2,798 \nNONCONTROLLING INTERESTS\n2,067 \n1,769 \nTotal equity\n4,504 \n4,567 \nTOTAL LIABILITIES AND EQUITY\n$\n38,363 \n$\n32,963 \nSee Accompanying Notes to Consolidated Financial Statements.",
462 "129 \nConsolidated Statements of Operations\nYears ended December 31, 2022, 2021, and 2020\n2022\n2021\n2020\n(in millions, except per share amounts)\nRevenue:\nRegulated\n$\n3,538 \n$\n2,868 \n$\n2,661 \nNon-Regulated\n9,079 \n8,273 \n6,999 \nTotal revenue\n12,617 \n11,141 \n9,660 \nCost of Sales:\nRegulated\n(3,162)\n(2,448)\n(2,235)\nNon-Regulated\n(6,907)\n(5,982)\n(4,732)\nTotal cost of sales\n(10,069)\n(8,430)\n(6,967)\nOperating margin\n2,548 \n2,711 \n2,693 \nGeneral and administrative expenses\n(207)\n(166)\n(165)\nInterest expense\n(1,117)\n(911)\n(1,038)\nInterest income\n389 \n298 \n268 \nLoss on extinguishment of debt\n(15)\n(78)\n(186)\nOther expense\n(68)\n(60)\n(53)\nOther income\n102 \n410 \n75 \nLoss on disposal and sale of business interests\n(9)\n(1,683)\n(95)\nGoodwill impairment expense\n(777)\n \n \nAsset impairment expense\n(763)\n(1,575)\n(864)\nForeign currency transaction gains (losses)\n(77)\n(10)\n55 \nOther non-operating expense\n(175)\n \n(202)\nINCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES\n(169)\n(1,064)\n488 \nIncome tax benefit (expense)\n(265)\n133 \n(216)\nNet equity in losses of affiliates\n(71)\n(24)\n(123)\nINCOME (LOSS) FROM CONTINUING OPERATIONS\n(505)\n(955)\n149 \nGain from disposal of discontinued businesses, net of income tax expense of $0, $1, and $0, respectively\n \n4 \n3 \nNET INCOME (LOSS)\n(505)\n(951)\n152 \nLess: Net loss (income) attributable to noncontrolling interests and redeemable stock of subsidiaries\n(41)\n542 \n(106)\nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION\n$\n(546)\n$\n(409)\n$\n46 \nAMOUNTS ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS:\nIncome (loss) from continuing operations, net of tax\n$\n(546)\n$\n(413)\n$\n43 \nIncome from discontinued operations, net of tax\n \n4 \n3 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION\n$\n(546)\n$\n(409)\n$\n46 \nBASIC EARNINGS PER SHARE:\nIncome (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax\n$\n(0.82)\n$\n(0.62)\n$\n0.06 \nIncome from discontinued operations attributable to The AES Corporation common stockholders, net of tax\n \n0.01 \n0.01 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS\n$\n(0.82)\n$\n(0.61)\n$\n0.07 \nDILUTED EARNINGS PER SHARE:\nIncome (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax\n$\n(0.82)\n$\n(0.62)\n$\n0.06 \nIncome from discontinued operations attributable to The AES Corporation common stockholders, net of tax\n \n0.01 \n0.01 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS\n$\n(0.82)\n$\n(0.61)\n$\n0.07 \nSee Accompanying Notes to Consolidated Financial Statements."
463 ],
464 "reference_idx": [
465 6342,
466 6344
467 ],
468 "question": "Based on the information provided primarily in the statement of financial position and the statement of income, what is AES's FY2022 return on assets (ROA)? ROA is defined as: FY2022 net income / (average total assets between FY2021 and FY2022). Round your answer to two decimal places.",
469 "answer": "-0.02"
470 },
471 "other_info": {
472 "financebench_id": "financebench_id_10420",
473 "company": "AES Corporation",
474 "doc_name": "AES_2022_10K",
475 "question_type": "metrics-generated",
476 "question_reasoning": "Numerical reasoning",
477 "domain_question_num": null,
478 "question": "Based on the information provided primarily in the statement of financial position and the statement of income, what is AES's FY2022 return on assets (ROA)? ROA is defined as: FY2022 net income / (average total assets between FY2021 and FY2022). Round your answer to two decimal places.",
479 "answer": "-0.02",
480 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Net income. This metric was located in the 10K as a single line item named: NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION.\n\nMetric 2: Total assets. This metric was located in the 10K as a single line item named: TOTAL ASSETS.",
481 "dataset_subset_label": "OPEN_SOURCE",
482 "evidence": [
483 {
484 "evidence_text": "128 \nConsolidated Balance Sheets\nDecember 31, 2022 and 2021\n2022\n2021\n(in millions, except share and per share data)\nASSETS\nCURRENT ASSETS\nCash and cash equivalents\n$\n1,374 \n$\n943 \nRestricted cash\n536 \n304 \nShort-term investments\n730 \n232 \nAccounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively\n1,799 \n1,418 \nInventory\n1,055 \n604 \nPrepaid expenses\n98 \n142 \nOther current assets, net of CECL allowance of $2 and $0, respectively\n1,533 \n897 \nCurrent held-for-sale assets\n518 \n816 \nTotal current assets\n7,643 \n5,356 \nNONCURRENT ASSETS\nProperty, Plant and Equipment:\nLand\n470 \n426 \nElectric generation, distribution assets and other\n26,599 \n25,552 \nAccumulated depreciation\n(8,651)\n(8,486)\nConstruction in progress\n4,621 \n2,414 \nProperty, plant and equipment, net\n23,039 \n19,906 \nOther Assets:\nInvestments in and advances to affiliates\n952 \n1,080 \nDebt service reserves and other deposits\n177 \n237 \nGoodwill\n362 \n1,177 \nOther intangible assets, net of accumulated amortization of $434 and $385, respectively\n1,841 \n1,450 \nDeferred income taxes\n319 \n409 \nLoan receivable, net of allowance of $26\n1,051 \n \nOther noncurrent assets, net of allowance of $51 and $23, respectively\n2,979 \n2,188 \nNoncurrent held-for-sale assets\n \n1,160 \nTotal other assets\n7,681 \n7,701 \nTOTAL ASSETS\n$\n38,363 \n$\n32,963 \nLIABILITIES AND EQUITY\nCURRENT LIABILITIES\nAccounts payable\n$\n1,730 \n$\n1,153 \nAccrued interest\n249 \n182 \nAccrued non-income taxes\n249 \n266 \nAccrued and other liabilities\n2,151 \n1,205 \nNon-recourse debt, including $416 and $302, respectively, related to variable interest entities\n1,758 \n1,367 \nCurrent held-for-sale liabilities\n354 \n559 \nTotal current liabilities\n6,491 \n4,732 \nNONCURRENT LIABILITIES\nRecourse debt\n3,894 \n3,729 \nNon-recourse debt, including $2,295 and $2,223, respectively, related to variable interest entities\n17,846 \n13,603 \nDeferred income taxes\n1,139 \n977 \nOther noncurrent liabilities\n3,168 \n3,358 \nNoncurrent held-for-sale liabilities\n \n740 \nTotal noncurrent liabilities\n26,047 \n22,407 \nCommitments and Contingencies (see Notes 12 and 13)\nRedeemable stock of subsidiaries\n1,321 \n1,257 \nEQUITY\nTHE AES CORPORATION STOCKHOLDERS EQUITY\nPreferred stock (without par value, 50,000,000 shares authorized; 1,043,050 issued and outstanding at December 31, 2022 and\nDecember 31, 2021)\n838 \n838 \nCommon stock ($0.01 par value, 1,200,000,000 shares authorized; 818,790,001 issued and 668,743,464 outstanding at December\n31, 2022 and 818,717,043 issued and 666,793,625 outstanding at December 31, 2021)\n8 \n8 \nAdditional paid-in capital\n6,688 \n7,106 \nAccumulated deficit\n(1,635)\n(1,089)\nAccumulated other comprehensive loss\n(1,640)\n(2,220)\nTreasury stock, at cost (150,046,537 and 151,923,418 shares at December 31, 2022 and December 31, 2021, respectively)\n(1,822)\n(1,845)\nTotal AES Corporation stockholders equity\n2,437 \n2,798 \nNONCONTROLLING INTERESTS\n2,067 \n1,769 \nTotal equity\n4,504 \n4,567 \nTOTAL LIABILITIES AND EQUITY\n$\n38,363 \n$\n32,963 \nSee Accompanying Notes to Consolidated Financial Statements.",
485 "doc_name": "AES_2022_10K",
486 "evidence_page_num": 129,
487 "evidence_text_full_page": "128 \nConsolidated Balance Sheets\nDecember 31, 2022 and 2021\n2022\n2021\n(in millions, except share and per share data)\nASSETS\nCURRENT ASSETS\nCash and cash equivalents\n$\n1,374 \n$\n943 \nRestricted cash\n536 \n304 \nShort-term investments\n730 \n232 \nAccounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively\n1,799 \n1,418 \nInventory\n1,055 \n604 \nPrepaid expenses\n98 \n142 \nOther current assets, net of CECL allowance of $2 and $0, respectively\n1,533 \n897 \nCurrent held-for-sale assets\n518 \n816 \nTotal current assets\n7,643 \n5,356 \nNONCURRENT ASSETS\nProperty, Plant and Equipment:\nLand\n470 \n426 \nElectric generation, distribution assets and other\n26,599 \n25,552 \nAccumulated depreciation\n(8,651)\n(8,486)\nConstruction in progress\n4,621 \n2,414 \nProperty, plant and equipment, net\n23,039 \n19,906 \nOther Assets:\nInvestments in and advances to affiliates\n952 \n1,080 \nDebt service reserves and other deposits\n177 \n237 \nGoodwill\n362 \n1,177 \nOther intangible assets, net of accumulated amortization of $434 and $385, respectively\n1,841 \n1,450 \nDeferred income taxes\n319 \n409 \nLoan receivable, net of allowance of $26\n1,051 \n \nOther noncurrent assets, net of allowance of $51 and $23, respectively\n2,979 \n2,188 \nNoncurrent held-for-sale assets\n \n1,160 \nTotal other assets\n7,681 \n7,701 \nTOTAL ASSETS\n$\n38,363 \n$\n32,963 \nLIABILITIES AND EQUITY\nCURRENT LIABILITIES\nAccounts payable\n$\n1,730 \n$\n1,153 \nAccrued interest\n249 \n182 \nAccrued non-income taxes\n249 \n266 \nAccrued and other liabilities\n2,151 \n1,205 \nNon-recourse debt, including $416 and $302, respectively, related to variable interest entities\n1,758 \n1,367 \nCurrent held-for-sale liabilities\n354 \n559 \nTotal current liabilities\n6,491 \n4,732 \nNONCURRENT LIABILITIES\nRecourse debt\n3,894 \n3,729 \nNon-recourse debt, including $2,295 and $2,223, respectively, related to variable interest entities\n17,846 \n13,603 \nDeferred income taxes\n1,139 \n977 \nOther noncurrent liabilities\n3,168 \n3,358 \nNoncurrent held-for-sale liabilities\n \n740 \nTotal noncurrent liabilities\n26,047 \n22,407 \nCommitments and Contingencies (see Notes 12 and 13)\nRedeemable stock of subsidiaries\n1,321 \n1,257 \nEQUITY\nTHE AES CORPORATION STOCKHOLDERS EQUITY\nPreferred stock (without par value, 50,000,000 shares authorized; 1,043,050 issued and outstanding at December 31, 2022 and\nDecember 31, 2021)\n838 \n838 \nCommon stock ($0.01 par value, 1,200,000,000 shares authorized; 818,790,001 issued and 668,743,464 outstanding at December\n31, 2022 and 818,717,043 issued and 666,793,625 outstanding at December 31, 2021)\n8 \n8 \nAdditional paid-in capital\n6,688 \n7,106 \nAccumulated deficit\n(1,635)\n(1,089)\nAccumulated other comprehensive loss\n(1,640)\n(2,220)\nTreasury stock, at cost (150,046,537 and 151,923,418 shares at December 31, 2022 and December 31, 2021, respectively)\n(1,822)\n(1,845)\nTotal AES Corporation stockholders equity\n2,437 \n2,798 \nNONCONTROLLING INTERESTS\n2,067 \n1,769 \nTotal equity\n4,504 \n4,567 \nTOTAL LIABILITIES AND EQUITY\n$\n38,363 \n$\n32,963 \nSee Accompanying Notes to Consolidated Financial Statements.\n"
488 },
489 {
490 "evidence_text": "129 \nConsolidated Statements of Operations\nYears ended December 31, 2022, 2021, and 2020\n2022\n2021\n2020\n(in millions, except per share amounts)\nRevenue:\nRegulated\n$\n3,538 \n$\n2,868 \n$\n2,661 \nNon-Regulated\n9,079 \n8,273 \n6,999 \nTotal revenue\n12,617 \n11,141 \n9,660 \nCost of Sales:\nRegulated\n(3,162)\n(2,448)\n(2,235)\nNon-Regulated\n(6,907)\n(5,982)\n(4,732)\nTotal cost of sales\n(10,069)\n(8,430)\n(6,967)\nOperating margin\n2,548 \n2,711 \n2,693 \nGeneral and administrative expenses\n(207)\n(166)\n(165)\nInterest expense\n(1,117)\n(911)\n(1,038)\nInterest income\n389 \n298 \n268 \nLoss on extinguishment of debt\n(15)\n(78)\n(186)\nOther expense\n(68)\n(60)\n(53)\nOther income\n102 \n410 \n75 \nLoss on disposal and sale of business interests\n(9)\n(1,683)\n(95)\nGoodwill impairment expense\n(777)\n \n \nAsset impairment expense\n(763)\n(1,575)\n(864)\nForeign currency transaction gains (losses)\n(77)\n(10)\n55 \nOther non-operating expense\n(175)\n \n(202)\nINCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES\n(169)\n(1,064)\n488 \nIncome tax benefit (expense)\n(265)\n133 \n(216)\nNet equity in losses of affiliates\n(71)\n(24)\n(123)\nINCOME (LOSS) FROM CONTINUING OPERATIONS\n(505)\n(955)\n149 \nGain from disposal of discontinued businesses, net of income tax expense of $0, $1, and $0, respectively\n \n4 \n3 \nNET INCOME (LOSS)\n(505)\n(951)\n152 \nLess: Net loss (income) attributable to noncontrolling interests and redeemable stock of subsidiaries\n(41)\n542 \n(106)\nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION\n$\n(546)\n$\n(409)\n$\n46 \nAMOUNTS ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS:\nIncome (loss) from continuing operations, net of tax\n$\n(546)\n$\n(413)\n$\n43 \nIncome from discontinued operations, net of tax\n \n4 \n3 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION\n$\n(546)\n$\n(409)\n$\n46 \nBASIC EARNINGS PER SHARE:\nIncome (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax\n$\n(0.82)\n$\n(0.62)\n$\n0.06 \nIncome from discontinued operations attributable to The AES Corporation common stockholders, net of tax\n \n0.01 \n0.01 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS\n$\n(0.82)\n$\n(0.61)\n$\n0.07 \nDILUTED EARNINGS PER SHARE:\nIncome (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax\n$\n(0.82)\n$\n(0.62)\n$\n0.06 \nIncome from discontinued operations attributable to The AES Corporation common stockholders, net of tax\n \n0.01 \n0.01 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS\n$\n(0.82)\n$\n(0.61)\n$\n0.07 \nSee Accompanying Notes to Consolidated Financial Statements.",
491 "doc_name": "AES_2022_10K",
492 "evidence_page_num": 131,
493 "evidence_text_full_page": "129 \nConsolidated Statements of Operations\nYears ended December 31, 2022, 2021, and 2020\n2022\n2021\n2020\n(in millions, except per share amounts)\nRevenue:\nRegulated\n$\n3,538 \n$\n2,868 \n$\n2,661 \nNon-Regulated\n9,079 \n8,273 \n6,999 \nTotal revenue\n12,617 \n11,141 \n9,660 \nCost of Sales:\nRegulated\n(3,162)\n(2,448)\n(2,235)\nNon-Regulated\n(6,907)\n(5,982)\n(4,732)\nTotal cost of sales\n(10,069)\n(8,430)\n(6,967)\nOperating margin\n2,548 \n2,711 \n2,693 \nGeneral and administrative expenses\n(207)\n(166)\n(165)\nInterest expense\n(1,117)\n(911)\n(1,038)\nInterest income\n389 \n298 \n268 \nLoss on extinguishment of debt\n(15)\n(78)\n(186)\nOther expense\n(68)\n(60)\n(53)\nOther income\n102 \n410 \n75 \nLoss on disposal and sale of business interests\n(9)\n(1,683)\n(95)\nGoodwill impairment expense\n(777)\n \n \nAsset impairment expense\n(763)\n(1,575)\n(864)\nForeign currency transaction gains (losses)\n(77)\n(10)\n55 \nOther non-operating expense\n(175)\n \n(202)\nINCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES\n(169)\n(1,064)\n488 \nIncome tax benefit (expense)\n(265)\n133 \n(216)\nNet equity in losses of affiliates\n(71)\n(24)\n(123)\nINCOME (LOSS) FROM CONTINUING OPERATIONS\n(505)\n(955)\n149 \nGain from disposal of discontinued businesses, net of income tax expense of $0, $1, and $0, respectively\n \n4 \n3 \nNET INCOME (LOSS)\n(505)\n(951)\n152 \nLess: Net loss (income) attributable to noncontrolling interests and redeemable stock of subsidiaries\n(41)\n542 \n(106)\nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION\n$\n(546)\n$\n(409)\n$\n46 \nAMOUNTS ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS:\nIncome (loss) from continuing operations, net of tax\n$\n(546)\n$\n(413)\n$\n43 \nIncome from discontinued operations, net of tax\n \n4 \n3 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION\n$\n(546)\n$\n(409)\n$\n46 \nBASIC EARNINGS PER SHARE:\nIncome (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax\n$\n(0.82)\n$\n(0.62)\n$\n0.06 \nIncome from discontinued operations attributable to The AES Corporation common stockholders, net of tax\n \n0.01 \n0.01 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS\n$\n(0.82)\n$\n(0.61)\n$\n0.07 \nDILUTED EARNINGS PER SHARE:\nIncome (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax\n$\n(0.82)\n$\n(0.62)\n$\n0.06 \nIncome from discontinued operations attributable to The AES Corporation common stockholders, net of tax\n \n0.01 \n0.01 \nNET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS\n$\n(0.82)\n$\n(0.61)\n$\n0.07 \nSee Accompanying Notes to Consolidated Financial Statements.\n"
494 }
495 ]
496 }
497 },
498 {
499 "key_content": {
500 "reference": [
501 "Table of Contents\nConsolidated Statement of Cash Flows\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 25, 2021, December 26, 2020 and December 28, 2019\n(in millions)\n2021\n2020\n2019\nOperating Activities\nNet income\n$\n7,679 $\n7,175 $\n7,353 \nDepreciation and amortization\n2,710 \n2,548 \n2,432 \nOperating lease right-of-use asset amortization\n505 \n478 \n412 \nShare-based compensation expense\n301 \n264 \n237 \nRestructuring and impairment charges\n247 \n289 \n370 \nCash payments for restructuring charges\n(256)\n(255)\n(350)\nAcquisition and divestiture-related charges\n(4)\n255 \n55 \nCash payments for acquisition and divestiture-related charges\n(176)\n(131)\n(10)\nPension and retiree medical plan expenses\n123 \n408 \n519 \nPension and retiree medical plan contributions\n(785)\n(562)\n(716)\nDeferred income taxes and other tax charges and credits\n298 \n361 \n453 \nTax expense/(benefit) related to the TCJ Act\n190 \n \n(8)\nTax payments related to the TCJ Act\n(309)\n(78)\n(423)\nChange in assets and liabilities:\nAccounts and notes receivable\n(651)\n(420)\n(650)\nInventories\n(582)\n(516)\n(190)\nPrepaid expenses and other current assets\n159 \n26 \n(87)\nAccounts payable and other current liabilities\n1,762 \n766 \n735 \nIncome taxes payable\n30 \n(159)\n(287)\nOther, net\n375 \n164 \n(196)\nNet Cash Provided by Operating Activities\n11,616 \n10,613 \n9,649 \nInvesting Activities\nCapital spending\n(4,625)\n(4,240)\n(4,232)\nSales of property, plant and equipment\n166 \n55 \n170 \nAcquisitions, net of cash acquired, and investments in noncontrolled affiliates\n(61)\n(6,372)\n(2,717)\nDivestitures and sales of investments in noncontrolled affiliates\n169 \n6 \n253 \nShort-term investments, by original maturity:\nMore than three months - purchases\n \n(1,135)\n \nMore than three months - maturities\n1,135 \n \n16 \nMore than three months - sales\n \n \n62 \nThree months or less, net\n(58)\n27 \n19 \nOther investing, net\n5 \n40 \n(8)\nNet Cash Used for Investing Activities\n(3,269)\n(11,619)\n(6,437)\n(Continued on following page)\n61"
502 ],
503 "reference_idx": [
504 43894
505 ],
506 "question": "What is the FY2021 capital expenditure amount (in USD billions) for PepsiCo? Respond to the question by assuming the perspective of an investment analyst who can only use the details shown within the statement of cash flows.",
507 "answer": "$4.60"
508 },
509 "other_info": {
510 "financebench_id": "financebench_id_04980",
511 "company": "PepsiCo",
512 "doc_name": "PEPSICO_2021_10K",
513 "question_type": "metrics-generated",
514 "question_reasoning": "Information extraction",
515 "domain_question_num": null,
516 "question": "What is the FY2021 capital expenditure amount (in USD billions) for PepsiCo? Respond to the question by assuming the perspective of an investment analyst who can only use the details shown within the statement of cash flows.",
517 "answer": "$4.60",
518 "justification": "The metric capital expenditures was directly extracted from the company 10K. The line item name, as seen in the 10K, was: Capital spending.",
519 "dataset_subset_label": "OPEN_SOURCE",
520 "evidence": [
521 {
522 "evidence_text": "Table of Contents\nConsolidated Statement of Cash Flows\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 25, 2021, December 26, 2020 and December 28, 2019\n(in millions)\n2021\n2020\n2019\nOperating Activities\nNet income\n$\n7,679 $\n7,175 $\n7,353 \nDepreciation and amortization\n2,710 \n2,548 \n2,432 \nOperating lease right-of-use asset amortization\n505 \n478 \n412 \nShare-based compensation expense\n301 \n264 \n237 \nRestructuring and impairment charges\n247 \n289 \n370 \nCash payments for restructuring charges\n(256)\n(255)\n(350)\nAcquisition and divestiture-related charges\n(4)\n255 \n55 \nCash payments for acquisition and divestiture-related charges\n(176)\n(131)\n(10)\nPension and retiree medical plan expenses\n123 \n408 \n519 \nPension and retiree medical plan contributions\n(785)\n(562)\n(716)\nDeferred income taxes and other tax charges and credits\n298 \n361 \n453 \nTax expense/(benefit) related to the TCJ Act\n190 \n \n(8)\nTax payments related to the TCJ Act\n(309)\n(78)\n(423)\nChange in assets and liabilities:\nAccounts and notes receivable\n(651)\n(420)\n(650)\nInventories\n(582)\n(516)\n(190)\nPrepaid expenses and other current assets\n159 \n26 \n(87)\nAccounts payable and other current liabilities\n1,762 \n766 \n735 \nIncome taxes payable\n30 \n(159)\n(287)\nOther, net\n375 \n164 \n(196)\nNet Cash Provided by Operating Activities\n11,616 \n10,613 \n9,649 \nInvesting Activities\nCapital spending\n(4,625)\n(4,240)\n(4,232)\nSales of property, plant and equipment\n166 \n55 \n170 \nAcquisitions, net of cash acquired, and investments in noncontrolled affiliates\n(61)\n(6,372)\n(2,717)\nDivestitures and sales of investments in noncontrolled affiliates\n169 \n6 \n253 \nShort-term investments, by original maturity:\nMore than three months - purchases\n \n(1,135)\n \nMore than three months - maturities\n1,135 \n \n16 \nMore than three months - sales\n \n \n62 \nThree months or less, net\n(58)\n27 \n19 \nOther investing, net\n5 \n40 \n(8)\nNet Cash Used for Investing Activities\n(3,269)\n(11,619)\n(6,437)\n(Continued on following page)\n61",
523 "doc_name": "PEPSICO_2021_10K",
524 "evidence_page_num": 62,
525 "evidence_text_full_page": "Table of Contents\nConsolidated Statement of Cash Flows\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 25, 2021, December 26, 2020 and December 28, 2019\n(in millions)\n2021\n2020\n2019\nOperating Activities\nNet income\n$\n7,679 $\n7,175 $\n7,353 \nDepreciation and amortization\n2,710 \n2,548 \n2,432 \nOperating lease right-of-use asset amortization\n505 \n478 \n412 \nShare-based compensation expense\n301 \n264 \n237 \nRestructuring and impairment charges\n247 \n289 \n370 \nCash payments for restructuring charges\n(256)\n(255)\n(350)\nAcquisition and divestiture-related charges\n(4)\n255 \n55 \nCash payments for acquisition and divestiture-related charges\n(176)\n(131)\n(10)\nPension and retiree medical plan expenses\n123 \n408 \n519 \nPension and retiree medical plan contributions\n(785)\n(562)\n(716)\nDeferred income taxes and other tax charges and credits\n298 \n361 \n453 \nTax expense/(benefit) related to the TCJ Act\n190 \n \n(8)\nTax payments related to the TCJ Act\n(309)\n(78)\n(423)\nChange in assets and liabilities:\nAccounts and notes receivable\n(651)\n(420)\n(650)\nInventories\n(582)\n(516)\n(190)\nPrepaid expenses and other current assets\n159 \n26 \n(87)\nAccounts payable and other current liabilities\n1,762 \n766 \n735 \nIncome taxes payable\n30 \n(159)\n(287)\nOther, net\n375 \n164 \n(196)\nNet Cash Provided by Operating Activities\n11,616 \n10,613 \n9,649 \nInvesting Activities\nCapital spending\n(4,625)\n(4,240)\n(4,232)\nSales of property, plant and equipment\n166 \n55 \n170 \nAcquisitions, net of cash acquired, and investments in noncontrolled affiliates\n(61)\n(6,372)\n(2,717)\nDivestitures and sales of investments in noncontrolled affiliates\n169 \n6 \n253 \nShort-term investments, by original maturity:\nMore than three months - purchases\n \n(1,135)\n \nMore than three months - maturities\n1,135 \n \n16 \nMore than three months - sales\n \n \n62 \nThree months or less, net\n(58)\n27 \n19 \nOther investing, net\n5 \n40 \n(8)\nNet Cash Used for Investing Activities\n(3,269)\n(11,619)\n(6,437)\n(Continued on following page)\n61\n"
526 }
527 ]
528 }
529 },
530 {
531 "key_content": {
532 "reference": [
533 "Las Vegas Strip Resorts \n \n \nNet revenues of $8.4 billion in the current year compared to $4.7 billion in the prior year, an \nincrease of 77%;",
534 "Regional Operations \n \n \nNet revenues of $3.8 billion in the current year compared to $3.4 billion in the prior year, an \nincrease of 12%;",
535 "MGM China \n \n \nNet revenues of $674 million in the current year compared to $1.2 billion in the prior year, a \ndecrease of 44%;"
536 ],
537 "reference_idx": [
538 36277,
539 36278,
540 36278
541 ],
542 "question": "Which region had the worst topline performance for MGM during FY2022?",
543 "answer": "MGM China experienced the worst topline performance amongst the other regions presented. Its revenue declined 44% in FY2022 whereas the other regions presented increased their revenues."
544 },
545 "other_info": {
546 "financebench_id": "financebench_id_01912",
547 "company": "MGM Resorts",
548 "doc_name": "MGMRESORTS_2022Q4_EARNINGS",
549 "question_type": "novel-generated",
550 "question_reasoning": null,
551 "domain_question_num": null,
552 "question": "Which region had the worst topline performance for MGM during FY2022?",
553 "answer": "MGM China experienced the worst topline performance amongst the other regions presented. Its revenue declined 44% in FY2022 whereas the other regions presented increased their revenues.",
554 "justification": null,
555 "dataset_subset_label": "OPEN_SOURCE",
556 "evidence": [
557 {
558 "evidence_text": "Las Vegas Strip Resorts \n \n \nNet revenues of $8.4 billion in the current year compared to $4.7 billion in the prior year, an \nincrease of 77%;",
559 "doc_name": "MGMRESORTS_2022Q4_EARNINGS",
560 "evidence_page_num": 2,
561 "evidence_text_full_page": " \n \nPage 3 of 15 \n \n \nAdjusted EPS \nThe following table reconciles diluted earnings per share (EPS) to Adjusted EPS (approximate EPS \nimpact shown, per share; positive adjustments represent charges to income): \nThree Months Ended December 31, \n2022 \n \n2021 \nDiluted earnings per share \n$ \n0.69 $ \n0.23 \nProperty transactions, net \n \n(2.74) \n(0.15) \nNon-operating items: \n \n \nInvestments and other \n \n(0.10) \n0.02 \nForeign currency gain on MGM China senior notes \n \n(0.02) \n \nChange in fair value of unhedged MGP swaps \n \n \n(0.01) \nIncome tax impact on net income adjustments (1) \n \n0.64 \n0.03 \nAdjusted EPS \n$ \n(1.53) $ \n0.12 \n \n(1) The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the \njurisdiction in which it occurs. \nFull Year 2022 Financial Highlights: \n \nConsolidated Results \n \n \nConsolidated net revenues of $13.1 billion in the current year compared to $9.7 billion in the \nprior year, an increase of 36%. The current year includes the operating results of The \nCosmopolitan upon its acquisition in May 2022, a full year of Aria and Vdara (collectively \n\"Aria\") due to its acquisition in September 2021, and the results of The Mirage until its \ndisposition in December 2022; \n \nOperating income was $1.4 billion compared to $2.3 billion in the prior year, due to a $2.5 \nbillion increase in noncash amortization expense of the MGM Grand Paradise gaming \nsubconcession and an increase of $1.1 billion of rent expense related to triple-net operating \nleases and ground leases due primarily to The Cosmopolitan lease, the Aria lease, and VICI \nlease, partially offset by the $2.3 billion gain on REIT transactions, net and the $1.1 billion gain \non the disposition of The Mirage in the current year, and also due to the prior year results \nincluding the $1.6 billion gain on consolidation of CityCenter, net; \n \nNet income attributable to MGM Resorts of $1.5 billion in 2022, which was impacted by the \nitems affecting operating income discussed above, compared to $1.3 billion in the prior year; \n \nDiluted earnings per share of $3.49 in 2022 compared to $2.41 in 2021; \n \nAdjusted EPS loss of $2.74 in 2022, compared to Adjusted EPS loss of $0.67 in 2021; and \n \nConsolidated Adjusted EBITDAR of $3.5 billion in 2022. \n \nLas Vegas Strip Resorts \n \n \nNet revenues of $8.4 billion in the current year compared to $4.7 billion in the prior year, an \nincrease of 77%; \n \nSame-store net revenues (adjusted for acquisitions and dispositions) of $5.6 billion in the current \nyear compared to $4.0 billion in the prior year, an increase of 42%; \n \nAdjusted Property EBITDAR of $3.1 billion in the current year compared to $1.7 billion in the \nprior year, an increase of 81%; \n"
562 },
563 {
564 "evidence_text": "Regional Operations \n \n \nNet revenues of $3.8 billion in the current year compared to $3.4 billion in the prior year, an \nincrease of 12%;",
565 "doc_name": "MGMRESORTS_2022Q4_EARNINGS",
566 "evidence_page_num": 3,
567 "evidence_text_full_page": " \n \nPage 4 of 15 \n \n \n \nSame-Store Adjusted Property EBITDAR of $2.1 billion in the current year compared to $1.5 \nbillion in the prior year, an increase of 42%; and \n \nAdjusted Property EBITDAR margin of 37.4% in the current year compared to 36.7% in the \nprior year, an increase of 72 basis points. \n \nRegional Operations \n \n \nNet revenues of $3.8 billion in the current year compared to $3.4 billion in the prior year, an \nincrease of 12%; \n \nAdjusted Property EBITDAR of $1.3 billion in the current year compared to $1.2 billion in the \nprior year, an increase of 6%; and \n Adjusted Property EBITDAR margin of 33.9% in the current year compared to 35.9% in the \nprior year, a decrease of 197 basis points due primarily to an increase in contribution from lower-\nmargin non-gaming outlets and venues. \n \nMGM China \n \n \nNet revenues of $674 million in the current year compared to $1.2 billion in the prior year, a \ndecrease of 44%; and \n \nMGM China Adjusted Property EBITDAR loss of $203 million in the current year compared to \nAdjusted Property EBITDAR of $25 million in the prior year. \n \nAdjusted EPS \n \nThe following table reconciles EPS to Adjusted EPS (approximate EPS impact shown, per share; \npositive adjustments represent charges to income): \n \nTwelve Months Ended December 31, \n2022 \n \n2021 \nDiluted earnings per share \n$ \n3.49 $ \n2.41 \nProperty transactions, net \n \n(2.53) \n(0.15) \nPreopening and start-up expenses \n \n \n0.01 \nGain on REIT transactions, net \n \n(5.52) \n \nGain on consolidation of CityCenter, net \n \n \n(3.21) \nNon-operating items: \n \n \nForeign currency loss on MGM China senior notes \n \n \n0.02 \nInvestments and other \n \n(0.03) \n(0.06) \nChange in fair value of foreign currency contracts \n \n0.09 \n \nChange in fair value of unhedged MGP swaps \n \n(0.03) \n(0.04) \nUnconsolidated affiliate items: \n \n \nChange in fair value of CityCenter swaps \n \n \n(0.02) \nGain related to sale of Harmon land \n \n \n(0.10) \nIncome tax impact on net income adjustments (1) \n \n1.79 \n0.47 \nAdjusted EPS \n$ \n(2.74) $ \n(0.67) \n \n(1) The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the \njurisdiction in which it occurs. \n"
568 },
569 {
570 "evidence_text": "MGM China \n \n \nNet revenues of $674 million in the current year compared to $1.2 billion in the prior year, a \ndecrease of 44%;",
571 "doc_name": "MGMRESORTS_2022Q4_EARNINGS",
572 "evidence_page_num": 3,
573 "evidence_text_full_page": " \n \nPage 4 of 15 \n \n \n \nSame-Store Adjusted Property EBITDAR of $2.1 billion in the current year compared to $1.5 \nbillion in the prior year, an increase of 42%; and \n \nAdjusted Property EBITDAR margin of 37.4% in the current year compared to 36.7% in the \nprior year, an increase of 72 basis points. \n \nRegional Operations \n \n \nNet revenues of $3.8 billion in the current year compared to $3.4 billion in the prior year, an \nincrease of 12%; \n \nAdjusted Property EBITDAR of $1.3 billion in the current year compared to $1.2 billion in the \nprior year, an increase of 6%; and \n Adjusted Property EBITDAR margin of 33.9% in the current year compared to 35.9% in the \nprior year, a decrease of 197 basis points due primarily to an increase in contribution from lower-\nmargin non-gaming outlets and venues. \n \nMGM China \n \n \nNet revenues of $674 million in the current year compared to $1.2 billion in the prior year, a \ndecrease of 44%; and \n \nMGM China Adjusted Property EBITDAR loss of $203 million in the current year compared to \nAdjusted Property EBITDAR of $25 million in the prior year. \n \nAdjusted EPS \n \nThe following table reconciles EPS to Adjusted EPS (approximate EPS impact shown, per share; \npositive adjustments represent charges to income): \n \nTwelve Months Ended December 31, \n2022 \n \n2021 \nDiluted earnings per share \n$ \n3.49 $ \n2.41 \nProperty transactions, net \n \n(2.53) \n(0.15) \nPreopening and start-up expenses \n \n \n0.01 \nGain on REIT transactions, net \n \n(5.52) \n \nGain on consolidation of CityCenter, net \n \n \n(3.21) \nNon-operating items: \n \n \nForeign currency loss on MGM China senior notes \n \n \n0.02 \nInvestments and other \n \n(0.03) \n(0.06) \nChange in fair value of foreign currency contracts \n \n0.09 \n \nChange in fair value of unhedged MGP swaps \n \n(0.03) \n(0.04) \nUnconsolidated affiliate items: \n \n \nChange in fair value of CityCenter swaps \n \n \n(0.02) \nGain related to sale of Harmon land \n \n \n(0.10) \nIncome tax impact on net income adjustments (1) \n \n1.79 \n0.47 \nAdjusted EPS \n$ \n(2.74) $ \n(0.67) \n \n(1) The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the \njurisdiction in which it occurs. \n"
574 }
575 ]
576 }
577 },
578 {
579 "key_content": {
580 "reference": [
581 "ITEM 8.\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\nAdvanced Micro Devices, Inc.\nConsolidated Statements of Operations\n \n \nYear Ended\n \nDecember 26,\n \n2015\n \nDecember 27,\n \n2014\n \nDecember 28,\n \n2013\n \n(In millions, except per share amounts)\nNet revenue\n$\n3,991 $\n5,506 $\n5,299 \nCost of sales\n2,911 \n3,667 \n3,321 \nGross margin\n1,080 \n1,839 \n1,978 \nResearch and development\n947 \n1,072 \n1,201 \nMarketing, general and administrative\n482 \n604 \n674 \nAmortization of acquired intangible assets\n3 \n14 \n18 \nRestructuring and other special charges, net\n129 \n71 \n30 \nGoodwill impairment charge\n \n233 \n \nLegal settlements, net\n \n \n(48)\nOperating income (loss)\n(481) \n(155) \n103 \nInterest expense\n(160) \n(177) \n(177)\nOther expense, net\n(5) \n(66) \n \nLoss before income taxes\n(646) \n(398) \n(74)\nProvision for income taxes\n14 \n5 \n9 \nNet loss\n$\n(660) $\n(403) $\n(83)\nNet loss per share\n \n \n \nBasic\n$\n(0.84) $\n(0.53) $\n(0.11)\nDiluted\n$\n(0.84) $\n(0.53) $\n(0.11)\nShares used in per share calculation\n \n \n \nBasic\n783 \n768 \n754 \nDiluted\n783 \n768 \n754 \nSee accompanying notes to consolidated financial statements.\n \n54",
582 "Advanced Micro Devices, Inc.\nConsolidated Statements of Cash Flows \n \nYear Ended\n \nDecember 26,\n \n2015\n \nDecember 27,\n \n2014\n \nDecember 28,\n \n2013\n \n(In millions)\nCash flows from operating activities:\n \n \n \nNet loss\n$\n(660) $\n(403) $\n(83)\nAdjustments to reconcile net loss to net cash used in operating activities:\n \n \n \nDepreciation and amortization\n167 \n203 \n236 \nNet loss on disposal of property, plant and equipment\n \n \n31 \nStock-based compensation expense\n63 \n81 \n91 \nNon-cash interest expense\n11 \n17 \n25 \nGoodwill impairment charge\n \n233 \n \nRestructuring and other special charges, net\n83 \n14 \n \nNet loss on debt redemptions\n \n61 \n1 \nOther\n(3) \n(13) \n(1)\nChanges in operating assets and liabilities:\n \n \n \nAccounts receivable\n280 \n7 \n(200)\nInventories\n(11) \n199 \n(322)\nPrepayments and other - GLOBALFOUNDRIES\n84 \n(113) \n \nPrepaid expenses and other assets\n(111) \n(7) \n(103)\nAccounts payables, accrued liabilities and other\n(156) \n(231) \n266 \nPayable to GLOBALFOUNDRIES\n27 \n(146) \n(89)\nNet cash used in operating activities\n(226) \n(98) \n(148)\nCash flows from investing activities:\n \n \n \nPurchases of available-for-sale securities\n(227) \n(790) \n(1,043)\nPurchases of property, plant and equipment\n(96) \n(95) \n(84)\nProceeds from sales and maturities of available-for-sale securities\n462 \n873 \n1,344 \nProceeds from sale of property, plant and equipment\n8 \n \n238 \nNet cash provided by (used in) investing activities\n147 \n(12) \n455 \nCash flows from financing activities:\n \n \n \nProceeds from borrowings, net\n100 \n1,155 \n55 \nProceeds from issuance of common stock\n5 \n4 \n3 \nRepayments of long-term debt and capital lease obligations\n(44) \n(1,115) \n(55)\nOther\n(2) \n2 \n10 \nNet cash provided by financing activities\n59 \n46 \n13 \nNet increase (decrease) in cash and cash equivalents\n(20) \n(64) \n320 \nCash and cash equivalents at beginning of year\n805 \n869 \n549 \nCash and cash equivalents at end of year\n$\n785 $\n805 $\n869 \nSupplemental disclosures of cash flow information:\n \n \n \nCash paid during the year for:\n \n \n \nInterest\n$\n149 $\n138 $\n152 \nIncome taxes\n$\n3 $\n7 $\n9 \nSee accompanying notes to consolidated financial statements.\n \n \n58"
583 ],
584 "reference_idx": [
585 8658,
586 8662
587 ],
588 "question": "Answer the following question as if you are an equity research analyst and have lost internet connection so you do not have access to financial metric providers. According to the details clearly outlined within the P&L statement and the statement of cash flows, what is the FY2015 depreciation and amortization (D&A from cash flow statement) % margin for AMD?",
589 "answer": "4.2%"
590 },
591 "other_info": {
592 "financebench_id": "financebench_id_03069",
593 "company": "AMD",
594 "doc_name": "AMD_2015_10K",
595 "question_type": "metrics-generated",
596 "question_reasoning": "Numerical reasoning",
597 "domain_question_num": null,
598 "question": "Answer the following question as if you are an equity research analyst and have lost internet connection so you do not have access to financial metric providers. According to the details clearly outlined within the P&L statement and the statement of cash flows, what is the FY2015 depreciation and amortization (D&A from cash flow statement) % margin for AMD?",
599 "answer": "4.2%",
600 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Depreciation and amortization. This metric was located in the 10K as a single line item named: Depreciation and amortization.\n\nMetric 2: Total revenue. This metric was located in the 10K as a single line item named: Net revenue.",
601 "dataset_subset_label": "OPEN_SOURCE",
602 "evidence": [
603 {
604 "evidence_text": "ITEM 8.\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\nAdvanced Micro Devices, Inc.\nConsolidated Statements of Operations\n \n \nYear Ended\n \nDecember 26,\n \n2015\n \nDecember 27,\n \n2014\n \nDecember 28,\n \n2013\n \n(In millions, except per share amounts)\nNet revenue\n$\n3,991 $\n5,506 $\n5,299 \nCost of sales\n2,911 \n3,667 \n3,321 \nGross margin\n1,080 \n1,839 \n1,978 \nResearch and development\n947 \n1,072 \n1,201 \nMarketing, general and administrative\n482 \n604 \n674 \nAmortization of acquired intangible assets\n3 \n14 \n18 \nRestructuring and other special charges, net\n129 \n71 \n30 \nGoodwill impairment charge\n \n233 \n \nLegal settlements, net\n \n \n(48)\nOperating income (loss)\n(481) \n(155) \n103 \nInterest expense\n(160) \n(177) \n(177)\nOther expense, net\n(5) \n(66) \n \nLoss before income taxes\n(646) \n(398) \n(74)\nProvision for income taxes\n14 \n5 \n9 \nNet loss\n$\n(660) $\n(403) $\n(83)\nNet loss per share\n \n \n \nBasic\n$\n(0.84) $\n(0.53) $\n(0.11)\nDiluted\n$\n(0.84) $\n(0.53) $\n(0.11)\nShares used in per share calculation\n \n \n \nBasic\n783 \n768 \n754 \nDiluted\n783 \n768 \n754 \nSee accompanying notes to consolidated financial statements.\n \n54",
605 "doc_name": "AMD_2015_10K",
606 "evidence_page_num": 55,
607 "evidence_text_full_page": " \n \nITEM 8.\nFINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\nAdvanced Micro Devices, Inc.\nConsolidated Statements of Operations\n \n \nYear Ended\n \nDecember 26,\n \n2015\n \nDecember 27,\n \n2014\n \nDecember 28,\n \n2013\n \n(In millions, except per share amounts)\nNet revenue\n$\n3,991 $\n5,506 $\n5,299 \nCost of sales\n2,911 \n3,667 \n3,321 \nGross margin\n1,080 \n1,839 \n1,978 \nResearch and development\n947 \n1,072 \n1,201 \nMarketing, general and administrative\n482 \n604 \n674 \nAmortization of acquired intangible assets\n3 \n14 \n18 \nRestructuring and other special charges, net\n129 \n71 \n30 \nGoodwill impairment charge\n \n233 \n \nLegal settlements, net\n \n \n(48)\nOperating income (loss)\n(481) \n(155) \n103 \nInterest expense\n(160) \n(177) \n(177)\nOther expense, net\n(5) \n(66) \n \nLoss before income taxes\n(646) \n(398) \n(74)\nProvision for income taxes\n14 \n5 \n9 \nNet loss\n$\n(660) $\n(403) $\n(83)\nNet loss per share\n \n \n \nBasic\n$\n(0.84) $\n(0.53) $\n(0.11)\nDiluted\n$\n(0.84) $\n(0.53) $\n(0.11)\nShares used in per share calculation\n \n \n \nBasic\n783 \n768 \n754 \nDiluted\n783 \n768 \n754 \nSee accompanying notes to consolidated financial statements.\n \n54\n"
608 },
609 {
610 "evidence_text": "Advanced Micro Devices, Inc.\nConsolidated Statements of Cash Flows \n \nYear Ended\n \nDecember 26,\n \n2015\n \nDecember 27,\n \n2014\n \nDecember 28,\n \n2013\n \n(In millions)\nCash flows from operating activities:\n \n \n \nNet loss\n$\n(660) $\n(403) $\n(83)\nAdjustments to reconcile net loss to net cash used in operating activities:\n \n \n \nDepreciation and amortization\n167 \n203 \n236 \nNet loss on disposal of property, plant and equipment\n \n \n31 \nStock-based compensation expense\n63 \n81 \n91 \nNon-cash interest expense\n11 \n17 \n25 \nGoodwill impairment charge\n \n233 \n \nRestructuring and other special charges, net\n83 \n14 \n \nNet loss on debt redemptions\n \n61 \n1 \nOther\n(3) \n(13) \n(1)\nChanges in operating assets and liabilities:\n \n \n \nAccounts receivable\n280 \n7 \n(200)\nInventories\n(11) \n199 \n(322)\nPrepayments and other - GLOBALFOUNDRIES\n84 \n(113) \n \nPrepaid expenses and other assets\n(111) \n(7) \n(103)\nAccounts payables, accrued liabilities and other\n(156) \n(231) \n266 \nPayable to GLOBALFOUNDRIES\n27 \n(146) \n(89)\nNet cash used in operating activities\n(226) \n(98) \n(148)\nCash flows from investing activities:\n \n \n \nPurchases of available-for-sale securities\n(227) \n(790) \n(1,043)\nPurchases of property, plant and equipment\n(96) \n(95) \n(84)\nProceeds from sales and maturities of available-for-sale securities\n462 \n873 \n1,344 \nProceeds from sale of property, plant and equipment\n8 \n \n238 \nNet cash provided by (used in) investing activities\n147 \n(12) \n455 \nCash flows from financing activities:\n \n \n \nProceeds from borrowings, net\n100 \n1,155 \n55 \nProceeds from issuance of common stock\n5 \n4 \n3 \nRepayments of long-term debt and capital lease obligations\n(44) \n(1,115) \n(55)\nOther\n(2) \n2 \n10 \nNet cash provided by financing activities\n59 \n46 \n13 \nNet increase (decrease) in cash and cash equivalents\n(20) \n(64) \n320 \nCash and cash equivalents at beginning of year\n805 \n869 \n549 \nCash and cash equivalents at end of year\n$\n785 $\n805 $\n869 \nSupplemental disclosures of cash flow information:\n \n \n \nCash paid during the year for:\n \n \n \nInterest\n$\n149 $\n138 $\n152 \nIncome taxes\n$\n3 $\n7 $\n9 \nSee accompanying notes to consolidated financial statements.\n \n \n58",
611 "doc_name": "AMD_2015_10K",
612 "evidence_page_num": 59,
613 "evidence_text_full_page": " \n \nAdvanced Micro Devices, Inc.\nConsolidated Statements of Cash Flows \n \nYear Ended\n \nDecember 26,\n \n2015\n \nDecember 27,\n \n2014\n \nDecember 28,\n \n2013\n \n(In millions)\nCash flows from operating activities:\n \n \n \nNet loss\n$\n(660) $\n(403) $\n(83)\nAdjustments to reconcile net loss to net cash used in operating activities:\n \n \n \nDepreciation and amortization\n167 \n203 \n236 \nNet loss on disposal of property, plant and equipment\n \n \n31 \nStock-based compensation expense\n63 \n81 \n91 \nNon-cash interest expense\n11 \n17 \n25 \nGoodwill impairment charge\n \n233 \n \nRestructuring and other special charges, net\n83 \n14 \n \nNet loss on debt redemptions\n \n61 \n1 \nOther\n(3) \n(13) \n(1)\nChanges in operating assets and liabilities:\n \n \n \nAccounts receivable\n280 \n7 \n(200)\nInventories\n(11) \n199 \n(322)\nPrepayments and other - GLOBALFOUNDRIES\n84 \n(113) \n \nPrepaid expenses and other assets\n(111) \n(7) \n(103)\nAccounts payables, accrued liabilities and other\n(156) \n(231) \n266 \nPayable to GLOBALFOUNDRIES\n27 \n(146) \n(89)\nNet cash used in operating activities\n(226) \n(98) \n(148)\nCash flows from investing activities:\n \n \n \nPurchases of available-for-sale securities\n(227) \n(790) \n(1,043)\nPurchases of property, plant and equipment\n(96) \n(95) \n(84)\nProceeds from sales and maturities of available-for-sale securities\n462 \n873 \n1,344 \nProceeds from sale of property, plant and equipment\n8 \n \n238 \nNet cash provided by (used in) investing activities\n147 \n(12) \n455 \nCash flows from financing activities:\n \n \n \nProceeds from borrowings, net\n100 \n1,155 \n55 \nProceeds from issuance of common stock\n5 \n4 \n3 \nRepayments of long-term debt and capital lease obligations\n(44) \n(1,115) \n(55)\nOther\n(2) \n2 \n10 \nNet cash provided by financing activities\n59 \n46 \n13 \nNet increase (decrease) in cash and cash equivalents\n(20) \n(64) \n320 \nCash and cash equivalents at beginning of year\n805 \n869 \n549 \nCash and cash equivalents at end of year\n$\n785 $\n805 $\n869 \nSupplemental disclosures of cash flow information:\n \n \n \nCash paid during the year for:\n \n \n \nInterest\n$\n149 $\n138 $\n152 \nIncome taxes\n$\n3 $\n7 $\n9 \nSee accompanying notes to consolidated financial statements.\n \n \n58\n"
614 }
615 ]
616 }
617 },
618 {
619 "key_content": {
620 "reference": [
621 "Amcor plc and Subsidiaries\nConsolidated Statements of Income\n($ in millions, except per share data)\nFor the years ended June 30,\n2023\n2022\n2021\nNet sales\n$\n14,694 \n$\n14,544 \n$\n12,861 \nCost of sales\n(11,969)\n(11,724)\n(10,129)\nGross profit\n2,725 \n2,820 \n2,732"
622 ],
623 "reference_idx": [
624 8496
625 ],
626 "question": "Does AMCOR have an improving gross margin profile as of FY2023? If gross margin is not a useful metric for a company like this, then state that and explain why.",
627 "answer": "No. For AMCOR there has been a slight decline in gross margins by 0.8%."
628 },
629 "other_info": {
630 "financebench_id": "financebench_id_00684",
631 "company": "Amcor",
632 "doc_name": "AMCOR_2023_10K",
633 "question_type": "domain-relevant",
634 "question_reasoning": "Numerical reasoning OR information extraction",
635 "domain_question_num": "dg13",
636 "question": "Does AMCOR have an improving gross margin profile as of FY2023? If gross margin is not a useful metric for a company like this, then state that and explain why.",
637 "answer": "No. For AMCOR there has been a slight decline in gross margins by 0.8%.",
638 "justification": "Gross Profit/Net Sales\n2725/14694\n2820/14544",
639 "dataset_subset_label": "OPEN_SOURCE",
640 "evidence": [
641 {
642 "evidence_text": "Amcor plc and Subsidiaries\nConsolidated Statements of Income\n($ in millions, except per share data)\nFor the years ended June 30,\n2023\n2022\n2021\nNet sales\n$\n14,694 \n$\n14,544 \n$\n12,861 \nCost of sales\n(11,969)\n(11,724)\n(10,129)\nGross profit\n2,725 \n2,820 \n2,732",
643 "doc_name": "AMCOR_2023_10K",
644 "evidence_page_num": 49,
645 "evidence_text_full_page": "Amcor plc and Subsidiaries\nConsolidated Statements of Income\n($ in millions, except per share data)\nFor the years ended June 30,\n2023\n2022\n2021\nNet sales\n$\n14,694 \n$\n14,544 \n$\n12,861 \nCost of sales\n(11,969)\n(11,724)\n(10,129)\nGross profit\n2,725 \n2,820 \n2,732 \nSelling, general, and administrative expenses\n(1,246)\n(1,284)\n(1,292)\nResearch and development expenses\n(101)\n(96)\n(100)\nRestructuring, impairment, and other related activities, net\n104 \n(234)\n(94)\nOther income, net\n26 \n33 \n75 \nOperating income\n1,508 \n1,239 \n1,321 \nInterest income\n31 \n24 \n14 \nInterest expense\n(290)\n(159)\n(153)\nOther non-operating income, net\n2 \n11 \n11 \nIncome before income taxes and equity in income of affiliated companies\n1,251 \n1,115 \n1,193 \nIncome tax expense\n(193)\n(300)\n(261)\nEquity in income of affiliated companies, net of tax\n \n \n19 \nNet income\n$\n1,058 \n$\n815 \n$\n951 \nNet income attributable to non-controlling interests\n(10)\n(10)\n(12)\nNet income attributable to Amcor plc\n$\n1,048 \n$\n805 \n$\n939 \nBasic earnings per share:\nBasic earnings per share\n$\n0.709 \n$\n0.532 \n$\n0.604 \nDiluted earnings per share\n$\n0.705 \n$\n0.529 \n$\n0.602 \n See accompanying notes to consolidated financial statements.\n50\n"
646 }
647 ]
648 }
649 },
650 {
651 "key_content": {
652 "reference": [
653 "Table of Contents\nNETFLIX, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share data)\n \n \n \nYear ended December 31,\n \n \n2015\n \n2014\n \n2013\nRevenues\n $\n6,779,511 $\n5,504,656 $\n4,374,562\nCost of revenues\n \n4,591,476 \n3,752,760 \n3,117,203\nMarketing\n \n824,092 \n607,186 \n469,942\nTechnology and development\n \n650,788 \n472,321 \n378,769\nGeneral and administrative\n \n407,329 \n269,741 \n180,301\nOperating income\n \n305,826 \n402,648 \n228,347\nOther income (expense):\n \n \n \nInterest expense\n \n(132,716) \n(50,219) \n(29,142)\nInterest and other income (expense)\n \n(31,225) \n(3,060) \n(3,002)\nLoss on extinguishment of debt\n \n \n \n(25,129)\nIncome before income taxes\n \n141,885 \n349,369 \n171,074\nProvision for income taxes\n \n19,244 \n82,570 \n58,671\nNet income\n $\n122,641 $\n266,799 $\n112,403\nEarnings per share:\n \n \n \nBasic\n $\n0.29 $\n0.63 $\n0.28\nDiluted\n $\n0.28 $\n0.62 $\n0.26\nWeighted-average common shares outstanding:\n \n \n \nBasic\n \n425,889 \n420,544 \n407,385\nDiluted\n \n436,456 \n431,894 \n425,327\nSee accompanying notes to consolidated financial statements.\n38",
654 "Table of Contents\nNETFLIX, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\n \n \nYear Ended December 31,\n \n \n2015\n \n2014\n \n2013\nCash flows from operating activities:\n \n \n \nNet income\n $\n122,641 $\n266,799 $\n112,403\nAdjustments to reconcile net income to net cash (used in) provided by operating activities:\n \n \n \nAdditions to streaming content assets\n \n(5,771,652) \n(3,773,019) \n(3,030,701)\nChange in streaming content liabilities\n \n1,162,413 \n593,125 \n673,785\nAmortization of streaming content assets\n \n3,405,382 \n2,656,279 \n2,121,981\nAmortization of DVD content assets\n \n79,380 \n71,491 \n71,325\nDepreciation and amortization of property, equipment and intangibles\n \n62,283 \n54,028 \n48,374\nStock-based compensation expense\n \n124,725 \n115,239 \n73,100\nExcess tax benefits from stock-based compensation\n \n(80,471) \n(89,341) \n(81,663)\nOther non-cash items\n \n31,628 \n15,282 \n5,332\nLoss on extinguishment of debt\n \n \n \n25,129\nDeferred taxes\n \n(58,655) \n(30,063) \n(22,044)\nChanges in operating assets and liabilities:\n \n \n \nOther current assets\n \n18,693 \n(9,198) \n43,177\nAccounts payable\n \n51,615 \n83,812 \n18,374\nAccrued expenses\n \n48,810 \n55,636 \n1,941\nDeferred revenue\n \n72,135 \n58,819 \n46,295\nOther non-current assets and liabilities\n \n(18,366) \n(52,406) \n(8,977)\nNet cash (used in) provided by operating activities\n \n(749,439) \n16,483 \n97,831\nCash flows from investing activities:\n \n \n \nAcquisition of DVD content assets\n \n(77,958) \n(74,790) \n(65,927)\nPurchases of property and equipment\n \n(91,248) \n(69,726) \n(54,143)\nOther assets\n \n(1,912) \n1,334 \n5,939\nPurchases of short-term investments\n \n(371,915) \n(426,934) \n(550,264)\nProceeds from sale of short-term investments\n \n259,079 \n385,300 \n347,502\nProceeds from maturities of short-term investments\n \n104,762 \n141,950 \n60,925\nNet cash used in investing activities\n \n(179,192) \n(42,866) \n(255,968)\nCash flows from financing activities:\n \n \n \nProceeds from issuance of common stock\n \n77,980 \n60,544 \n124,557\nProceeds from issuance of debt\n \n1,500,000 \n400,000 \n500,000\nIssuance costs\n \n(17,629) \n(7,080) \n(9,414)\nRedemption of debt\n \n \n \n(219,362)\nExcess tax benefits from stock-based compensation\n \n80,471 \n89,341 \n81,663\nPrincipal payments of lease financing obligations\n \n(545) \n(1,093) \n(1,180)\nNet cash provided by financing activities\n \n1,640,277 \n541,712 \n476,264\nEffect of exchange rate changes on cash and cash equivalents\n \n(15,924) \n(6,686) \n(3,453)\nNet increase in cash and cash equivalents\n \n695,722 \n508,643 \n314,674\nCash and cash equivalents, beginning of year\n \n1,113,608 \n604,965 \n290,291\nCash and cash equivalents, end of year\n $\n1,809,330 $\n1,113,608 $\n604,965\nSupplemental disclosure:\n \n \n \nIncome taxes paid\n $\n27,658 $\n50,573 $\n7,465\nInterest paid\n \n111,761 \n41,085 \n19,114\nInvesting activities included in liabilities\n \n18,824 \n23,802 \n11,508\nSee accompanying notes to consolidated financial statements.\n40"
655 ],
656 "reference_idx": [
657 37732,
658 37734
659 ],
660 "question": "We want to calculate a financial metric. Please help us compute it by basing your answers off of the statement of income and the statement of cash flows. Here's the question: what is the FY2015 unadjusted EBITDA % margin for Netflix? Calculate unadjusted EBITDA using unadjusted operating income and D&A (from cash flow statement).",
661 "answer": "5.4%"
662 },
663 "other_info": {
664 "financebench_id": "financebench_id_04458",
665 "company": "Netflix",
666 "doc_name": "NETFLIX_2015_10K",
667 "question_type": "metrics-generated",
668 "question_reasoning": "Numerical reasoning",
669 "domain_question_num": null,
670 "question": "We want to calculate a financial metric. Please help us compute it by basing your answers off of the statement of income and the statement of cash flows. Here's the question: what is the FY2015 unadjusted EBITDA % margin for Netflix? Calculate unadjusted EBITDA using unadjusted operating income and D&A (from cash flow statement).",
671 "answer": "5.4%",
672 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Depreciation and amortization. This metric was located in the 10K as a single line item named: Depreciation and amortization of property, equipment and intangibles.\n\nMetric 2: Unadjusted operating income. This metric was located in the 10K as a single line item named: Operating income.\n\nMetric 3: Total revenue. This metric was located in the 10K as a single line item named: Revenues.",
673 "dataset_subset_label": "OPEN_SOURCE",
674 "evidence": [
675 {
676 "evidence_text": "Table of Contents\nNETFLIX, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share data)\n \n \n \nYear ended December 31,\n \n \n2015\n \n2014\n \n2013\nRevenues\n $\n6,779,511 $\n5,504,656 $\n4,374,562\nCost of revenues\n \n4,591,476 \n3,752,760 \n3,117,203\nMarketing\n \n824,092 \n607,186 \n469,942\nTechnology and development\n \n650,788 \n472,321 \n378,769\nGeneral and administrative\n \n407,329 \n269,741 \n180,301\nOperating income\n \n305,826 \n402,648 \n228,347\nOther income (expense):\n \n \n \nInterest expense\n \n(132,716) \n(50,219) \n(29,142)\nInterest and other income (expense)\n \n(31,225) \n(3,060) \n(3,002)\nLoss on extinguishment of debt\n \n \n \n(25,129)\nIncome before income taxes\n \n141,885 \n349,369 \n171,074\nProvision for income taxes\n \n19,244 \n82,570 \n58,671\nNet income\n $\n122,641 $\n266,799 $\n112,403\nEarnings per share:\n \n \n \nBasic\n $\n0.29 $\n0.63 $\n0.28\nDiluted\n $\n0.28 $\n0.62 $\n0.26\nWeighted-average common shares outstanding:\n \n \n \nBasic\n \n425,889 \n420,544 \n407,385\nDiluted\n \n436,456 \n431,894 \n425,327\nSee accompanying notes to consolidated financial statements.\n38",
677 "doc_name": "NETFLIX_2015_10K",
678 "evidence_page_num": 39,
679 "evidence_text_full_page": "Table of Contents\nNETFLIX, INC.\nCONSOLIDATED STATEMENTS OF OPERATIONS\n(in thousands, except per share data)\n \n \n \nYear ended December 31,\n \n \n2015\n \n2014\n \n2013\nRevenues\n $\n6,779,511 $\n5,504,656 $\n4,374,562\nCost of revenues\n \n4,591,476 \n3,752,760 \n3,117,203\nMarketing\n \n824,092 \n607,186 \n469,942\nTechnology and development\n \n650,788 \n472,321 \n378,769\nGeneral and administrative\n \n407,329 \n269,741 \n180,301\nOperating income\n \n305,826 \n402,648 \n228,347\nOther income (expense):\n \n \n \nInterest expense\n \n(132,716) \n(50,219) \n(29,142)\nInterest and other income (expense)\n \n(31,225) \n(3,060) \n(3,002)\nLoss on extinguishment of debt\n \n \n \n(25,129)\nIncome before income taxes\n \n141,885 \n349,369 \n171,074\nProvision for income taxes\n \n19,244 \n82,570 \n58,671\nNet income\n $\n122,641 $\n266,799 $\n112,403\nEarnings per share:\n \n \n \nBasic\n $\n0.29 $\n0.63 $\n0.28\nDiluted\n $\n0.28 $\n0.62 $\n0.26\nWeighted-average common shares outstanding:\n \n \n \nBasic\n \n425,889 \n420,544 \n407,385\nDiluted\n \n436,456 \n431,894 \n425,327\nSee accompanying notes to consolidated financial statements.\n38\n"
680 },
681 {
682 "evidence_text": "Table of Contents\nNETFLIX, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\n \n \nYear Ended December 31,\n \n \n2015\n \n2014\n \n2013\nCash flows from operating activities:\n \n \n \nNet income\n $\n122,641 $\n266,799 $\n112,403\nAdjustments to reconcile net income to net cash (used in) provided by operating activities:\n \n \n \nAdditions to streaming content assets\n \n(5,771,652) \n(3,773,019) \n(3,030,701)\nChange in streaming content liabilities\n \n1,162,413 \n593,125 \n673,785\nAmortization of streaming content assets\n \n3,405,382 \n2,656,279 \n2,121,981\nAmortization of DVD content assets\n \n79,380 \n71,491 \n71,325\nDepreciation and amortization of property, equipment and intangibles\n \n62,283 \n54,028 \n48,374\nStock-based compensation expense\n \n124,725 \n115,239 \n73,100\nExcess tax benefits from stock-based compensation\n \n(80,471) \n(89,341) \n(81,663)\nOther non-cash items\n \n31,628 \n15,282 \n5,332\nLoss on extinguishment of debt\n \n \n \n25,129\nDeferred taxes\n \n(58,655) \n(30,063) \n(22,044)\nChanges in operating assets and liabilities:\n \n \n \nOther current assets\n \n18,693 \n(9,198) \n43,177\nAccounts payable\n \n51,615 \n83,812 \n18,374\nAccrued expenses\n \n48,810 \n55,636 \n1,941\nDeferred revenue\n \n72,135 \n58,819 \n46,295\nOther non-current assets and liabilities\n \n(18,366) \n(52,406) \n(8,977)\nNet cash (used in) provided by operating activities\n \n(749,439) \n16,483 \n97,831\nCash flows from investing activities:\n \n \n \nAcquisition of DVD content assets\n \n(77,958) \n(74,790) \n(65,927)\nPurchases of property and equipment\n \n(91,248) \n(69,726) \n(54,143)\nOther assets\n \n(1,912) \n1,334 \n5,939\nPurchases of short-term investments\n \n(371,915) \n(426,934) \n(550,264)\nProceeds from sale of short-term investments\n \n259,079 \n385,300 \n347,502\nProceeds from maturities of short-term investments\n \n104,762 \n141,950 \n60,925\nNet cash used in investing activities\n \n(179,192) \n(42,866) \n(255,968)\nCash flows from financing activities:\n \n \n \nProceeds from issuance of common stock\n \n77,980 \n60,544 \n124,557\nProceeds from issuance of debt\n \n1,500,000 \n400,000 \n500,000\nIssuance costs\n \n(17,629) \n(7,080) \n(9,414)\nRedemption of debt\n \n \n \n(219,362)\nExcess tax benefits from stock-based compensation\n \n80,471 \n89,341 \n81,663\nPrincipal payments of lease financing obligations\n \n(545) \n(1,093) \n(1,180)\nNet cash provided by financing activities\n \n1,640,277 \n541,712 \n476,264\nEffect of exchange rate changes on cash and cash equivalents\n \n(15,924) \n(6,686) \n(3,453)\nNet increase in cash and cash equivalents\n \n695,722 \n508,643 \n314,674\nCash and cash equivalents, beginning of year\n \n1,113,608 \n604,965 \n290,291\nCash and cash equivalents, end of year\n $\n1,809,330 $\n1,113,608 $\n604,965\nSupplemental disclosure:\n \n \n \nIncome taxes paid\n $\n27,658 $\n50,573 $\n7,465\nInterest paid\n \n111,761 \n41,085 \n19,114\nInvesting activities included in liabilities\n \n18,824 \n23,802 \n11,508\nSee accompanying notes to consolidated financial statements.\n40",
683 "doc_name": "NETFLIX_2015_10K",
684 "evidence_page_num": 41,
685 "evidence_text_full_page": "Table of Contents\nNETFLIX, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\n(in thousands)\n \n \nYear Ended December 31,\n \n \n2015\n \n2014\n \n2013\nCash flows from operating activities:\n \n \n \nNet income\n $\n122,641 $\n266,799 $\n112,403\nAdjustments to reconcile net income to net cash (used in) provided by operating activities:\n \n \n \nAdditions to streaming content assets\n \n(5,771,652) \n(3,773,019) \n(3,030,701)\nChange in streaming content liabilities\n \n1,162,413 \n593,125 \n673,785\nAmortization of streaming content assets\n \n3,405,382 \n2,656,279 \n2,121,981\nAmortization of DVD content assets\n \n79,380 \n71,491 \n71,325\nDepreciation and amortization of property, equipment and intangibles\n \n62,283 \n54,028 \n48,374\nStock-based compensation expense\n \n124,725 \n115,239 \n73,100\nExcess tax benefits from stock-based compensation\n \n(80,471) \n(89,341) \n(81,663)\nOther non-cash items\n \n31,628 \n15,282 \n5,332\nLoss on extinguishment of debt\n \n \n \n25,129\nDeferred taxes\n \n(58,655) \n(30,063) \n(22,044)\nChanges in operating assets and liabilities:\n \n \n \nOther current assets\n \n18,693 \n(9,198) \n43,177\nAccounts payable\n \n51,615 \n83,812 \n18,374\nAccrued expenses\n \n48,810 \n55,636 \n1,941\nDeferred revenue\n \n72,135 \n58,819 \n46,295\nOther non-current assets and liabilities\n \n(18,366) \n(52,406) \n(8,977)\nNet cash (used in) provided by operating activities\n \n(749,439) \n16,483 \n97,831\nCash flows from investing activities:\n \n \n \nAcquisition of DVD content assets\n \n(77,958) \n(74,790) \n(65,927)\nPurchases of property and equipment\n \n(91,248) \n(69,726) \n(54,143)\nOther assets\n \n(1,912) \n1,334 \n5,939\nPurchases of short-term investments\n \n(371,915) \n(426,934) \n(550,264)\nProceeds from sale of short-term investments\n \n259,079 \n385,300 \n347,502\nProceeds from maturities of short-term investments\n \n104,762 \n141,950 \n60,925\nNet cash used in investing activities\n \n(179,192) \n(42,866) \n(255,968)\nCash flows from financing activities:\n \n \n \nProceeds from issuance of common stock\n \n77,980 \n60,544 \n124,557\nProceeds from issuance of debt\n \n1,500,000 \n400,000 \n500,000\nIssuance costs\n \n(17,629) \n(7,080) \n(9,414)\nRedemption of debt\n \n \n \n(219,362)\nExcess tax benefits from stock-based compensation\n \n80,471 \n89,341 \n81,663\nPrincipal payments of lease financing obligations\n \n(545) \n(1,093) \n(1,180)\nNet cash provided by financing activities\n \n1,640,277 \n541,712 \n476,264\nEffect of exchange rate changes on cash and cash equivalents\n \n(15,924) \n(6,686) \n(3,453)\nNet increase in cash and cash equivalents\n \n695,722 \n508,643 \n314,674\nCash and cash equivalents, beginning of year\n \n1,113,608 \n604,965 \n290,291\nCash and cash equivalents, end of year\n $\n1,809,330 $\n1,113,608 $\n604,965\nSupplemental disclosure:\n \n \n \nIncome taxes paid\n $\n27,658 $\n50,573 $\n7,465\nInterest paid\n \n111,761 \n41,085 \n19,114\nInvesting activities included in liabilities\n \n18,824 \n23,802 \n11,508\nSee accompanying notes to consolidated financial statements.\n40\n"
686 }
687 ]
688 }
689 },
690 {
691 "key_content": {
692 "reference": [
693 "Table of Contents\n \nPART II\nItem 8\n \nITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\nINCOME STATEMENTS\n \n(In millions, except per share amounts)\n \n \n \n \n \n \n \nYear Ended June 30,\n \n2016 \n2015 \n2014 \nRevenue:\n \n \n \n \n \n \n \nProduct\n \n$ 61,502 \n$ 75,956 \n$ 72,948 \nService and other\n \n \n23,818 \n \n17,624 \n \n13,885 \n \n \nTotal revenue\n \n \n85,320 \n \n93,580 \n \n86,833 \n \n \nCost of revenue:\n \n \n \n \n \n \n \nProduct\n \n \n17,880 \n \n21,410 \n \n16,681 \nService and other\n \n \n14,900 \n \n11,628 \n \n10,397 \n \n \nTotal cost of revenue\n \n \n32,780 \n \n33,038 \n \n27,078 \n \n \nGross margin\n \n \n52,540 \n \n60,542 \n \n59,755 \nResearch and development\n \n \n11,988 \n \n12,046 \n \n11,381 \nSales and marketing\n \n \n14,697 \n \n15,713 \n \n15,811 \nGeneral and administrative\n \n \n4,563 \n \n4,611 \n \n4,677 \nImpairment, integration, and restructuring\n \n \n1,110 \n \n10,011 \n \n127 \n \n \nOperating income\n \n \n20,182 \n \n18,161 \n \n27,759 \nOther income (expense), net\n \n \n(431) \n \n346 \n \n61 \n \n \nIncome before income taxes\n \n \n19,751 \n \n18,507 \n \n27,820 \nProvision for income taxes\n \n \n2,953 \n \n6,314 \n \n5,746 \n \n \nNet income\n \n$ 16,798 \n$ 12,193 \n$ 22,074 \n \n \n \n \nEarnings per share:\n \n \n \n \n \n \n \nBasic\n \n$\n2.12 \n$\n1.49 \n$\n2.66 \nDiluted\n \n$\n2.10 \n$\n1.48 \n$\n2.63 \nWeighted average shares outstanding:\n \n \n \n \n \n \n \nBasic\n \n \n7,925 \n \n8,177 \n \n8,299 \nDiluted\n \n \n8,013 \n \n8,254 \n \n8,399 \nCash dividends declared per common share\n \n$\n1.44 \n$\n1.24 \n$\n1.12 \nSee accompanying notes.\n \n52"
694 ],
695 "reference_idx": [
696 36766
697 ],
698 "question": "What is the FY2016 COGS for Microsoft? Please state answer in USD millions. Provide a response to the question by primarily using the statement of income.",
699 "answer": "$32780.00"
700 },
701 "other_info": {
702 "financebench_id": "financebench_id_04700",
703 "company": "Microsoft",
704 "doc_name": "MICROSOFT_2016_10K",
705 "question_type": "metrics-generated",
706 "question_reasoning": "Information extraction",
707 "domain_question_num": null,
708 "question": "What is the FY2016 COGS for Microsoft? Please state answer in USD millions. Provide a response to the question by primarily using the statement of income.",
709 "answer": "$32780.00",
710 "justification": "The metric cost of goods sold was directly extracted from the company 10K. The line item name, as seen in the 10K, was: Total cost of revenue.",
711 "dataset_subset_label": "OPEN_SOURCE",
712 "evidence": [
713 {
714 "evidence_text": "Table of Contents\n \nPART II\nItem 8\n \nITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\nINCOME STATEMENTS\n \n(In millions, except per share amounts)\n \n \n \n \n \n \n \nYear Ended June 30,\n \n2016 \n2015 \n2014 \nRevenue:\n \n \n \n \n \n \n \nProduct\n \n$ 61,502 \n$ 75,956 \n$ 72,948 \nService and other\n \n \n23,818 \n \n17,624 \n \n13,885 \n \n \nTotal revenue\n \n \n85,320 \n \n93,580 \n \n86,833 \n \n \nCost of revenue:\n \n \n \n \n \n \n \nProduct\n \n \n17,880 \n \n21,410 \n \n16,681 \nService and other\n \n \n14,900 \n \n11,628 \n \n10,397 \n \n \nTotal cost of revenue\n \n \n32,780 \n \n33,038 \n \n27,078 \n \n \nGross margin\n \n \n52,540 \n \n60,542 \n \n59,755 \nResearch and development\n \n \n11,988 \n \n12,046 \n \n11,381 \nSales and marketing\n \n \n14,697 \n \n15,713 \n \n15,811 \nGeneral and administrative\n \n \n4,563 \n \n4,611 \n \n4,677 \nImpairment, integration, and restructuring\n \n \n1,110 \n \n10,011 \n \n127 \n \n \nOperating income\n \n \n20,182 \n \n18,161 \n \n27,759 \nOther income (expense), net\n \n \n(431) \n \n346 \n \n61 \n \n \nIncome before income taxes\n \n \n19,751 \n \n18,507 \n \n27,820 \nProvision for income taxes\n \n \n2,953 \n \n6,314 \n \n5,746 \n \n \nNet income\n \n$ 16,798 \n$ 12,193 \n$ 22,074 \n \n \n \n \nEarnings per share:\n \n \n \n \n \n \n \nBasic\n \n$\n2.12 \n$\n1.49 \n$\n2.66 \nDiluted\n \n$\n2.10 \n$\n1.48 \n$\n2.63 \nWeighted average shares outstanding:\n \n \n \n \n \n \n \nBasic\n \n \n7,925 \n \n8,177 \n \n8,299 \nDiluted\n \n \n8,013 \n \n8,254 \n \n8,399 \nCash dividends declared per common share\n \n$\n1.44 \n$\n1.24 \n$\n1.12 \nSee accompanying notes.\n \n52",
715 "doc_name": "MICROSOFT_2016_10K",
716 "evidence_page_num": 51,
717 "evidence_text_full_page": "Table of Contents\n \nPART II\nItem 8\n \nITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA\nINCOME STATEMENTS\n \n(In millions, except per share amounts)\n \n \n \n \n \n \n \nYear Ended June 30,\n \n2016 \n2015 \n2014 \nRevenue:\n \n \n \n \n \n \n \nProduct\n \n$ 61,502 \n$ 75,956 \n$ 72,948 \nService and other\n \n \n23,818 \n \n17,624 \n \n13,885 \n \n \nTotal revenue\n \n \n85,320 \n \n93,580 \n \n86,833 \n \n \nCost of revenue:\n \n \n \n \n \n \n \nProduct\n \n \n17,880 \n \n21,410 \n \n16,681 \nService and other\n \n \n14,900 \n \n11,628 \n \n10,397 \n \n \nTotal cost of revenue\n \n \n32,780 \n \n33,038 \n \n27,078 \n \n \nGross margin\n \n \n52,540 \n \n60,542 \n \n59,755 \nResearch and development\n \n \n11,988 \n \n12,046 \n \n11,381 \nSales and marketing\n \n \n14,697 \n \n15,713 \n \n15,811 \nGeneral and administrative\n \n \n4,563 \n \n4,611 \n \n4,677 \nImpairment, integration, and restructuring\n \n \n1,110 \n \n10,011 \n \n127 \n \n \nOperating income\n \n \n20,182 \n \n18,161 \n \n27,759 \nOther income (expense), net\n \n \n(431) \n \n346 \n \n61 \n \n \nIncome before income taxes\n \n \n19,751 \n \n18,507 \n \n27,820 \nProvision for income taxes\n \n \n2,953 \n \n6,314 \n \n5,746 \n \n \nNet income\n \n$ 16,798 \n$ 12,193 \n$ 22,074 \n \n \n \n \nEarnings per share:\n \n \n \n \n \n \n \nBasic\n \n$\n2.12 \n$\n1.49 \n$\n2.66 \nDiluted\n \n$\n2.10 \n$\n1.48 \n$\n2.63 \nWeighted average shares outstanding:\n \n \n \n \n \n \n \nBasic\n \n \n7,925 \n \n8,177 \n \n8,299 \nDiluted\n \n \n8,013 \n \n8,254 \n \n8,399 \nCash dividends declared per common share\n \n$\n1.44 \n$\n1.24 \n$\n1.12 \nSee accompanying notes.\n \n52\n"
718 }
719 ]
720 }
721 },
722 {
723 "key_content": {
724 "reference": [
725 "Twelve Months Ended June 30, 2022\nTwelve Months Ended June 30, 2023\n($ million)\nEBITDA\nEBIT\nNet \nIncome\nEPS \n(Diluted\nUS \ncents)(1)\nEBITDA\nEBIT\nNet \nIncome\nEPS \n(Diluted \nUS \ncents)(1)\nNet income attributable to Amcor\n \n805 \n \n805 \n \n805 \n \n52.9 \n \n1,048 \n \n1,048 \n \n1,048 \n \n70.5 \nNet income attributable to non-controlling \ninterests\n \n10 \n \n10 \n \n10 \n \n10 \nTax expense\n \n300 \n \n300 \n \n193 \n \n193 \nInterest expense, net\n \n135 \n \n135 \n \n259 \n \n259 \nDepreciation and amortization\n \n579 \n \n569 \nEBITDA, EBIT, Net income and EPS\n \n1,829 \n \n1,250 \n \n805 \n \n52.9 \n \n2,080 \n \n1,510 \n \n1,048 \n \n70.5 \n2019 Bemis Integration Plan\n \n37 \n \n37 \n \n37 \n \n2.5 \n \n \n \n \n \n \n \n \nNet loss on disposals(2)\n \n10 \n \n10 \n \n10 \n \n0.7 \n \n \n \n \n \n \n \n \nImpact of hyperinflation\n \n16 \n \n16 \n \n16 \n \n1.0 \n \n24 \n \n24 \n \n24 \n \n1.9 \nProperty and other losses, net(3)\n \n13 \n \n13 \n \n13 \n \n0.8 \n \n2 \n \n2 \n \n2 \n \n0.1 \nRussia-Ukraine conflict impacts(4)\n \n200 \n \n200 \n \n200 \n \n13.2 \n \n(90) \n(90) \n(90) \n(6.0) \nPension settlements\n \n8 \n \n8 \n \n8 \n \n0.5 \n \n5 \n \n5 \n \n5 \n \n0.3 \nOther\n \n4 \n \n4 \n \n4 \n \n0.3 \n \n(3) \n(3) \n(3) \n(0.3) \nAmortization of acquired intangibles (5)\n \n163 \n \n163 \n \n10.7 \n \n160 \n \n160 \n \n10.8 \nTax effect of above items \n \n(32) \n(2.1) \n \n(57) \n(4.0) \nAdjusted EBITDA, EBIT, Net income and EPS \n \n2,117 \n \n1,701 \n \n1,224 \n \n80.5 \n \n2,018 \n \n1,608 \n \n1,089 \n \n73.3"
726 ],
727 "reference_idx": [
728 8444
729 ],
730 "question": "What Was AMCOR's Adjusted Non GAAP EBITDA for FY 2023",
731 "answer": "AMCOR's Adj. EBITDA was $2,018mn in FY 2023"
732 },
733 "other_info": {
734 "financebench_id": "financebench_id_01928",
735 "company": "Amcor",
736 "doc_name": "AMCOR_2023Q4_EARNINGS",
737 "question_type": "novel-generated",
738 "question_reasoning": null,
739 "domain_question_num": null,
740 "question": "What Was AMCOR's Adjusted Non GAAP EBITDA for FY 2023",
741 "answer": "AMCOR's Adj. EBITDA was $2,018mn in FY 2023",
742 "justification": null,
743 "dataset_subset_label": "OPEN_SOURCE",
744 "evidence": [
745 {
746 "evidence_text": "Twelve Months Ended June 30, 2022\nTwelve Months Ended June 30, 2023\n($ million)\nEBITDA\nEBIT\nNet \nIncome\nEPS \n(Diluted\nUS \ncents)(1)\nEBITDA\nEBIT\nNet \nIncome\nEPS \n(Diluted \nUS \ncents)(1)\nNet income attributable to Amcor\n \n805 \n \n805 \n \n805 \n \n52.9 \n \n1,048 \n \n1,048 \n \n1,048 \n \n70.5 \nNet income attributable to non-controlling \ninterests\n \n10 \n \n10 \n \n10 \n \n10 \nTax expense\n \n300 \n \n300 \n \n193 \n \n193 \nInterest expense, net\n \n135 \n \n135 \n \n259 \n \n259 \nDepreciation and amortization\n \n579 \n \n569 \nEBITDA, EBIT, Net income and EPS\n \n1,829 \n \n1,250 \n \n805 \n \n52.9 \n \n2,080 \n \n1,510 \n \n1,048 \n \n70.5 \n2019 Bemis Integration Plan\n \n37 \n \n37 \n \n37 \n \n2.5 \n \n \n \n \n \n \n \n \nNet loss on disposals(2)\n \n10 \n \n10 \n \n10 \n \n0.7 \n \n \n \n \n \n \n \n \nImpact of hyperinflation\n \n16 \n \n16 \n \n16 \n \n1.0 \n \n24 \n \n24 \n \n24 \n \n1.9 \nProperty and other losses, net(3)\n \n13 \n \n13 \n \n13 \n \n0.8 \n \n2 \n \n2 \n \n2 \n \n0.1 \nRussia-Ukraine conflict impacts(4)\n \n200 \n \n200 \n \n200 \n \n13.2 \n \n(90) \n(90) \n(90) \n(6.0) \nPension settlements\n \n8 \n \n8 \n \n8 \n \n0.5 \n \n5 \n \n5 \n \n5 \n \n0.3 \nOther\n \n4 \n \n4 \n \n4 \n \n0.3 \n \n(3) \n(3) \n(3) \n(0.3) \nAmortization of acquired intangibles (5)\n \n163 \n \n163 \n \n10.7 \n \n160 \n \n160 \n \n10.8 \nTax effect of above items \n \n(32) \n(2.1) \n \n(57) \n(4.0) \nAdjusted EBITDA, EBIT, Net income and EPS \n \n2,117 \n \n1,701 \n \n1,224 \n \n80.5 \n \n2,018 \n \n1,608 \n \n1,089 \n \n73.3",
747 "doc_name": "AMCOR_2023Q4_EARNINGS",
748 "evidence_page_num": 11,
749 "evidence_text_full_page": "Twelve Months Ended June 30, 2022\nTwelve Months Ended June 30, 2023\n($ million)\nEBITDA\nEBIT\nNet \nIncome\nEPS \n(Diluted\nUS \ncents)(1)\nEBITDA\nEBIT\nNet \nIncome\nEPS \n(Diluted \nUS \ncents)(1)\nNet income attributable to Amcor\n \n805 \n \n805 \n \n805 \n \n52.9 \n \n1,048 \n \n1,048 \n \n1,048 \n \n70.5 \nNet income attributable to non-controlling \ninterests\n \n10 \n \n10 \n \n10 \n \n10 \nTax expense\n \n300 \n \n300 \n \n193 \n \n193 \nInterest expense, net\n \n135 \n \n135 \n \n259 \n \n259 \nDepreciation and amortization\n \n579 \n \n569 \nEBITDA, EBIT, Net income and EPS\n \n1,829 \n \n1,250 \n \n805 \n \n52.9 \n \n2,080 \n \n1,510 \n \n1,048 \n \n70.5 \n2019 Bemis Integration Plan\n \n37 \n \n37 \n \n37 \n \n2.5 \n \n \n \n \n \n \n \n \nNet loss on disposals(2)\n \n10 \n \n10 \n \n10 \n \n0.7 \n \n \n \n \n \n \n \n \nImpact of hyperinflation\n \n16 \n \n16 \n \n16 \n \n1.0 \n \n24 \n \n24 \n \n24 \n \n1.9 \nProperty and other losses, net(3)\n \n13 \n \n13 \n \n13 \n \n0.8 \n \n2 \n \n2 \n \n2 \n \n0.1 \nRussia-Ukraine conflict impacts(4)\n \n200 \n \n200 \n \n200 \n \n13.2 \n \n(90) \n(90) \n(90) \n(6.0) \nPension settlements\n \n8 \n \n8 \n \n8 \n \n0.5 \n \n5 \n \n5 \n \n5 \n \n0.3 \nOther\n \n4 \n \n4 \n \n4 \n \n0.3 \n \n(3) \n(3) \n(3) \n(0.3) \nAmortization of acquired intangibles (5)\n \n163 \n \n163 \n \n10.7 \n \n160 \n \n160 \n \n10.8 \nTax effect of above items \n \n(32) \n(2.1) \n \n(57) \n(4.0) \nAdjusted EBITDA, EBIT, Net income and EPS \n \n2,117 \n \n1,701 \n \n1,224 \n \n80.5 \n \n2,018 \n \n1,608 \n \n1,089 \n \n73.3 \nReconciliation of adjusted growth to comparable constant currency growth \n% growth - Adjusted EBITDA, EBIT, Net income, and EPS\n \n(5) \n(5) \n(11) \n(9) \n% items affecting comparability(6)\n \n3 \n \n4 \n \n4 \n \n4 \n% currency impact\n \n3 \n \n2 \n \n3 \n \n3 \n% comparable constant currency growth\n \n1 \n \n1 \n \n(4) \n(2) \nAdjusted EBITDA\n \n2,117 \n \n2,018 \nInterest paid, net\n \n(119) \n \n(248) \nIncome tax paid\n \n(256) \n \n(225) \nPurchase of property, plant and equipment and \nother intangible assets\n \n(527) \n \n(526) \nProceeds from sales of property, plant and \nequipment and other intangible assets\n \n18 \n \n30 \nMovement in working capital\n \n(154) \n \n(229) \nOther\n \n(13) \n \n28 \nAdjusted Free Cash Flow\n \n1,066 \n \n848 \n(1) Calculation of diluted EPS for the twelve months ended June 30, 2023 excludes net income attributable to shares to be repurchased under \nforward contracts of $7 million, and $3 million for the twelve months ended June 30, 2022. \n(2) Includes losses on disposal of non-core businesses in fiscal year 2022.\n(3) Property and other losses, net for fiscal year 2023 includes property claims and losses, net of insurance recovery related to the closure of our \nbusiness in South Africa. Fiscal year 2022 includes business losses primarily associated with the destruction of our Durban, South Africa facility \nduring general civil unrest in July 2021, net of insurance recovery.\n(4) Includes the net gain on disposal of the Russian business in December 2022 and incremental restructuring and other costs attributable to group \nwide initiatives to offset divested earnings from the Russian business. Fiscal year 2022 includes impairment charges and restructuring and related \nexpenses.\n(5) Amortization of acquired intangible assets from business combinations.\n(6) Reflects the impact of acquired, disposed, and ceased operations. \n12\n"
750 }
751 ]
752 }
753 },
754 {
755 "key_content": {
756 "reference": [
757 "Table of Contents\nConsolidated Statement of Income\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020\n(in millions except per share amounts)\n2022\n2021\n2020\nNet Revenue\n$\n86,392 $\n79,474 $\n70,372 \nCost of sales\n40,576 \n37,075 \n31,797 \nGross profit\n45,816 \n42,399 \n38,575 \nSelling, general and administrative expenses\n34,459 \n31,237 \n28,453 \nGain associated with the Juice Transaction (see Note 13)\n(3,321)\n \n \nImpairment of intangible assets (see Notes 1 and 4)\n3,166 \n \n42 \nOperating Profit\n11,512 \n11,162 \n10,080 \nOther pension and retiree medical benefits income\n132 \n522 \n117 \nNet interest expense and other\n(939)\n(1,863)\n(1,128)\nIncome before income taxes\n10,705 \n9,821 \n9,069 \nProvision for income taxes\n1,727 \n2,142 \n1,894 \nNet income\n8,978 \n7,679 \n7,175 \nLess: Net income attributable to noncontrolling interests\n68 \n61 \n55 \nNet Income Attributable to PepsiCo\n$\n8,910 $\n7,618 $\n7,120 \nNet Income Attributable to PepsiCo per Common Share\nBasic\n$\n6.45 $\n5.51 $\n5.14 \nDiluted\n$\n6.42 $\n5.49 $\n5.12 \nWeighted-average common shares outstanding\nBasic\n1,380 \n1,382 \n1,385 \nDiluted\n1,387 \n1,389 \n1,392 \nSee accompanying notes to the consolidated financial statements.\n60",
758 "Table of Contents\nConsolidated Statement of Cash Flows\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020\n(in millions)\n2022\n2021\n2020\nOperating Activities\nNet income\n$\n8,978 $\n7,679 $\n7,175 \nDepreciation and amortization\n2,763 \n2,710 \n2,548 \nGain associated with the Juice Transaction\n(3,321)\n \n \nImpairment and other charges\n3,618 \n \n \nOperating lease right-of-use asset amortization\n517 \n505 \n478 \nShare-based compensation expense\n343 \n301 \n264 \nRestructuring and impairment charges\n411 \n247 \n289 \nCash payments for restructuring charges\n(224)\n(256)\n(255)\nAcquisition and divestiture-related charges\n80 \n(4)\n255 \nCash payments for acquisition and divestiture-related charges\n(46)\n(176)\n(131)\nPension and retiree medical plan expenses\n419 \n123 \n408 \nPension and retiree medical plan contributions\n(384)\n(785)\n(562)\nDeferred income taxes and other tax charges and credits\n(873)\n298 \n361 \nTax expense related to the TCJ Act\n86 \n190 \n \nTax payments related to the TCJ Act\n(309)\n(309)\n(78)\nChange in assets and liabilities:\nAccounts and notes receivable\n(1,763)\n(651)\n(420)\nInventories\n(1,142)\n(582)\n(516)\nPrepaid expenses and other current assets\n118 \n159 \n26 \nAccounts payable and other current liabilities\n1,842 \n1,762 \n766 \nIncome taxes payable\n57 \n30 \n(159)\nOther, net\n(359)\n375 \n164 \nNet Cash Provided by Operating Activities\n10,811 \n11,616 \n10,613 \nInvesting Activities\nCapital spending\n(5,207)\n(4,625)\n(4,240)\nSales of property, plant and equipment\n251 \n166 \n55 \nAcquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of\nintangible and other assets\n(873)\n(61)\n(6,372)\nProceeds associated with the Juice Transaction\n3,456 \n \n \nOther divestitures, sales of investments in noncontrolled affiliates and other assets\n49 \n169 \n6 \nShort-term investments, by original maturity:\nMore than three months - purchases\n(291)\n \n(1,135)\nMore than three months - maturities\n150 \n1,135 \n \nThree months or less, net\n24 \n(58)\n27 \nOther investing, net\n11 \n5 \n40 \nNet Cash Used for Investing Activities\n(2,430)\n(3,269)\n(11,619)\n(Continued on following page)\n62"
759 ],
760 "reference_idx": [
761 44466,
762 44468
763 ],
764 "question": "What is the FY2022 unadjusted EBITDA % margin for PepsiCo? Calculate unadjusted EBITDA using unadjusted operating income and D&A (from cash flow statement). Give a response to the question by relying on the details shown in the statement of cash flows and the P&L statement.",
765 "answer": "16.5%"
766 },
767 "other_info": {
768 "financebench_id": "financebench_id_04481",
769 "company": "PepsiCo",
770 "doc_name": "PEPSICO_2022_10K",
771 "question_type": "metrics-generated",
772 "question_reasoning": "Numerical reasoning",
773 "domain_question_num": null,
774 "question": "What is the FY2022 unadjusted EBITDA % margin for PepsiCo? Calculate unadjusted EBITDA using unadjusted operating income and D&A (from cash flow statement). Give a response to the question by relying on the details shown in the statement of cash flows and the P&L statement.",
775 "answer": "16.5%",
776 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Depreciation and amortization. This metric was located in the 10K as a single line item named: Depreciation and amortization.\n\nMetric 2: Unadjusted operating income. This metric was located in the 10K as a single line item named: Operating Profit.\n\nMetric 3: Total revenue. This metric was located in the 10K as a single line item named: Net Revenue.",
777 "dataset_subset_label": "OPEN_SOURCE",
778 "evidence": [
779 {
780 "evidence_text": "Table of Contents\nConsolidated Statement of Income\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020\n(in millions except per share amounts)\n2022\n2021\n2020\nNet Revenue\n$\n86,392 $\n79,474 $\n70,372 \nCost of sales\n40,576 \n37,075 \n31,797 \nGross profit\n45,816 \n42,399 \n38,575 \nSelling, general and administrative expenses\n34,459 \n31,237 \n28,453 \nGain associated with the Juice Transaction (see Note 13)\n(3,321)\n \n \nImpairment of intangible assets (see Notes 1 and 4)\n3,166 \n \n42 \nOperating Profit\n11,512 \n11,162 \n10,080 \nOther pension and retiree medical benefits income\n132 \n522 \n117 \nNet interest expense and other\n(939)\n(1,863)\n(1,128)\nIncome before income taxes\n10,705 \n9,821 \n9,069 \nProvision for income taxes\n1,727 \n2,142 \n1,894 \nNet income\n8,978 \n7,679 \n7,175 \nLess: Net income attributable to noncontrolling interests\n68 \n61 \n55 \nNet Income Attributable to PepsiCo\n$\n8,910 $\n7,618 $\n7,120 \nNet Income Attributable to PepsiCo per Common Share\nBasic\n$\n6.45 $\n5.51 $\n5.14 \nDiluted\n$\n6.42 $\n5.49 $\n5.12 \nWeighted-average common shares outstanding\nBasic\n1,380 \n1,382 \n1,385 \nDiluted\n1,387 \n1,389 \n1,392 \nSee accompanying notes to the consolidated financial statements.\n60",
781 "doc_name": "PEPSICO_2022_10K",
782 "evidence_page_num": 61,
783 "evidence_text_full_page": "Table of Contents\nConsolidated Statement of Income\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020\n(in millions except per share amounts)\n2022\n2021\n2020\nNet Revenue\n$\n86,392 $\n79,474 $\n70,372 \nCost of sales\n40,576 \n37,075 \n31,797 \nGross profit\n45,816 \n42,399 \n38,575 \nSelling, general and administrative expenses\n34,459 \n31,237 \n28,453 \nGain associated with the Juice Transaction (see Note 13)\n(3,321)\n \n \nImpairment of intangible assets (see Notes 1 and 4)\n3,166 \n \n42 \nOperating Profit\n11,512 \n11,162 \n10,080 \nOther pension and retiree medical benefits income\n132 \n522 \n117 \nNet interest expense and other\n(939)\n(1,863)\n(1,128)\nIncome before income taxes\n10,705 \n9,821 \n9,069 \nProvision for income taxes\n1,727 \n2,142 \n1,894 \nNet income\n8,978 \n7,679 \n7,175 \nLess: Net income attributable to noncontrolling interests\n68 \n61 \n55 \nNet Income Attributable to PepsiCo\n$\n8,910 $\n7,618 $\n7,120 \nNet Income Attributable to PepsiCo per Common Share\nBasic\n$\n6.45 $\n5.51 $\n5.14 \nDiluted\n$\n6.42 $\n5.49 $\n5.12 \nWeighted-average common shares outstanding\nBasic\n1,380 \n1,382 \n1,385 \nDiluted\n1,387 \n1,389 \n1,392 \nSee accompanying notes to the consolidated financial statements.\n60\n"
784 },
785 {
786 "evidence_text": "Table of Contents\nConsolidated Statement of Cash Flows\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020\n(in millions)\n2022\n2021\n2020\nOperating Activities\nNet income\n$\n8,978 $\n7,679 $\n7,175 \nDepreciation and amortization\n2,763 \n2,710 \n2,548 \nGain associated with the Juice Transaction\n(3,321)\n \n \nImpairment and other charges\n3,618 \n \n \nOperating lease right-of-use asset amortization\n517 \n505 \n478 \nShare-based compensation expense\n343 \n301 \n264 \nRestructuring and impairment charges\n411 \n247 \n289 \nCash payments for restructuring charges\n(224)\n(256)\n(255)\nAcquisition and divestiture-related charges\n80 \n(4)\n255 \nCash payments for acquisition and divestiture-related charges\n(46)\n(176)\n(131)\nPension and retiree medical plan expenses\n419 \n123 \n408 \nPension and retiree medical plan contributions\n(384)\n(785)\n(562)\nDeferred income taxes and other tax charges and credits\n(873)\n298 \n361 \nTax expense related to the TCJ Act\n86 \n190 \n \nTax payments related to the TCJ Act\n(309)\n(309)\n(78)\nChange in assets and liabilities:\nAccounts and notes receivable\n(1,763)\n(651)\n(420)\nInventories\n(1,142)\n(582)\n(516)\nPrepaid expenses and other current assets\n118 \n159 \n26 \nAccounts payable and other current liabilities\n1,842 \n1,762 \n766 \nIncome taxes payable\n57 \n30 \n(159)\nOther, net\n(359)\n375 \n164 \nNet Cash Provided by Operating Activities\n10,811 \n11,616 \n10,613 \nInvesting Activities\nCapital spending\n(5,207)\n(4,625)\n(4,240)\nSales of property, plant and equipment\n251 \n166 \n55 \nAcquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of\nintangible and other assets\n(873)\n(61)\n(6,372)\nProceeds associated with the Juice Transaction\n3,456 \n \n \nOther divestitures, sales of investments in noncontrolled affiliates and other assets\n49 \n169 \n6 \nShort-term investments, by original maturity:\nMore than three months - purchases\n(291)\n \n(1,135)\nMore than three months - maturities\n150 \n1,135 \n \nThree months or less, net\n24 \n(58)\n27 \nOther investing, net\n11 \n5 \n40 \nNet Cash Used for Investing Activities\n(2,430)\n(3,269)\n(11,619)\n(Continued on following page)\n62",
787 "doc_name": "PEPSICO_2022_10K",
788 "evidence_page_num": 63,
789 "evidence_text_full_page": "Table of Contents\nConsolidated Statement of Cash Flows\nPepsiCo, Inc. and Subsidiaries\nFiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020\n(in millions)\n2022\n2021\n2020\nOperating Activities\nNet income\n$\n8,978 $\n7,679 $\n7,175 \nDepreciation and amortization\n2,763 \n2,710 \n2,548 \nGain associated with the Juice Transaction\n(3,321)\n \n \nImpairment and other charges\n3,618 \n \n \nOperating lease right-of-use asset amortization\n517 \n505 \n478 \nShare-based compensation expense\n343 \n301 \n264 \nRestructuring and impairment charges\n411 \n247 \n289 \nCash payments for restructuring charges\n(224)\n(256)\n(255)\nAcquisition and divestiture-related charges\n80 \n(4)\n255 \nCash payments for acquisition and divestiture-related charges\n(46)\n(176)\n(131)\nPension and retiree medical plan expenses\n419 \n123 \n408 \nPension and retiree medical plan contributions\n(384)\n(785)\n(562)\nDeferred income taxes and other tax charges and credits\n(873)\n298 \n361 \nTax expense related to the TCJ Act\n86 \n190 \n \nTax payments related to the TCJ Act\n(309)\n(309)\n(78)\nChange in assets and liabilities:\nAccounts and notes receivable\n(1,763)\n(651)\n(420)\nInventories\n(1,142)\n(582)\n(516)\nPrepaid expenses and other current assets\n118 \n159 \n26 \nAccounts payable and other current liabilities\n1,842 \n1,762 \n766 \nIncome taxes payable\n57 \n30 \n(159)\nOther, net\n(359)\n375 \n164 \nNet Cash Provided by Operating Activities\n10,811 \n11,616 \n10,613 \nInvesting Activities\nCapital spending\n(5,207)\n(4,625)\n(4,240)\nSales of property, plant and equipment\n251 \n166 \n55 \nAcquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of\nintangible and other assets\n(873)\n(61)\n(6,372)\nProceeds associated with the Juice Transaction\n3,456 \n \n \nOther divestitures, sales of investments in noncontrolled affiliates and other assets\n49 \n169 \n6 \nShort-term investments, by original maturity:\nMore than three months - purchases\n(291)\n \n(1,135)\nMore than three months - maturities\n150 \n1,135 \n \nThree months or less, net\n24 \n(58)\n27 \nOther investing, net\n11 \n5 \n40 \nNet Cash Used for Investing Activities\n(2,430)\n(3,269)\n(11,619)\n(Continued on following page)\n62\n"
790 }
791 ]
792 }
793 },
794 {
795 "key_content": {
796 "reference": [
797 "ConsolidatedStatementsofOperations\n\nFortheYearsEndedDecember31,\nIn millions, except per share amounts\n2018\n\n2017\n\n2016\nRevenues:\n\n \n \nProducts\n$\n183,910 $\n180,063 $\n173,377\nPremiums\n8,184 \n3,558 \n3,069\nServices\n1,825 \n1,144 \n1,080\nNetinvestmentincome\n660 \n21 \n20\nTotalrevenues\n194,579 \n184,786 \n177,546\nOperatingcosts:\n\n \n \nCostofproductssold\n156,447 \n153,448 \n146,533\nBenefitcosts\n6,594 \n2,810 \n2,179\nGoodwillimpairments\n6,149 \n181 \n\nOperatingexpenses\n21,368 \n18,809 \n18,448\nTotaloperatingcosts\n190,558 \n175,248 \n167,160\nOperatingincome\n4,021 \n9,538 \n10,386\nInterestexpense\n2,619 \n1,062 \n1,078\nLossonearlyextinguishmentofdebt\n \n \n643\nOtherexpense(income)\n(4) \n208 \n28\nIncomebeforeincometaxprovision\n1,406 \n8,268 \n8,637\nIncometaxprovision\n2,002 \n1,637 \n3,317\nIncome(loss)fromcontinuingoperations\n(596) \n6,631 \n5,320\nLossfromdiscontinuedoperations,netoftax\n \n(8) \n(1)\nNetincome(loss)\n(596) \n6,623 \n5,319\nNet(income)lossattributabletononcontrollinginterests\n2 \n(1) \n(2)\nNetincome(loss)attributabletoCVSHealth\n$\n(594) $\n6,622 $\n5,317\n\n\n \n \nBasicearnings(loss)pershare:\n\n \n \nIncome(loss)fromcontinuingoperationsattributabletoCVSHealth\n$\n(0.57) $\n6.48 $\n4.93\nLossfromdiscontinuedoperationsattributabletoCVSHealth\n$\n $\n(0.01) $\n\nNetincome(loss)attributabletoCVSHealth\n$\n(0.57) $\n6.47 $\n4.93\nWeightedaveragebasicsharesoutstanding\n1,044 \n1,020 \n1,073\nDilutedearnings(loss)pershare:\n\n \n \nIncome(loss)fromcontinuingoperationsattributabletoCVSHealth\n$\n(0.57) $\n6.45 $\n4.91\nLossfromdiscontinuedoperationsattributabletoCVSHealth\n$\n $\n(0.01) $\n\nNetincome(loss)attributabletoCVSHealth\n$\n(0.57) $\n6.44 $\n4.90\nWeightedaveragedilutedsharesoutstanding\n1,044 \n1,024 \n1,079\nDividendsdeclaredpershare\n$\n2.00 $\n2.00 $\n1.70\n\n\n \n \nSeeaccompanyingnotestoconsolidatedfinancialstatements.\nPage38",
798 "ConsolidatedBalanceSheets\n\nAtDecember31,\nIn millions, except per share amounts\n2018\n\n2017\nAssets:\n\n \nCashandcashequivalents\n$\n4,059 $\n1,696\nInvestments\n2,522 \n111\nAccountsreceivable,net\n17,631 \n13,181\nInventories\n16,450 \n15,296\nOthercurrentassets\n4,581 \n945\nTotalcurrentassets\n45,243 \n31,229\nLong-terminvestments\n15,732 \n112\nPropertyandequipment,net\n11,349 \n10,292\nGoodwill\n78,678 \n38,451\nIntangibleassets,net\n36,524 \n13,630\nSeparateaccountsassets\n3,884 \n\nOtherassets\n5,046 \n1,417\nTotalassets\n$\n196,456 $\n95,131\n\n\n \nLiabilities:\n\n \nAccountspayable\n$\n8,925 $\n8,863\nPharmacyclaimsanddiscountspayable\n12,302 \n10,355\nHealthcarecostspayable\n5,210 \n5\nPolicyholdersfunds\n2,939 \n\nAccruedexpenses\n10,711 \n6,581\nOtherinsuranceliabilities\n1,937 \n23\nShort-termdebt\n720 \n1,276\nCurrentportionoflong-termdebt\n1,265 \n3,545\nTotalcurrentliabilities\n44,009 \n30,648\nLong-termdebt\n71,444 \n22,181\nDeferredincometaxes\n7,677 \n2,996\nSeparateaccountsliabilities\n3,884 \n\nOtherlong-terminsuranceliabilities\n8,119 \n334\nOtherlong-termliabilities\n2,780 \n1,277\nTotalliabilities\n137,913 \n57,436\nCommitmentsandcontingencies(Note16)\n\n\n\n \nShareholdersequity:\n\n\n\nCVSHealthshareholdersequity:\n\n \nPreferredstock,parvalue$0.01:0.1sharesauthorized;noneissuedoroutstanding\n \n\nCommonstock,parvalue$0.01:3,200sharesauthorized;1,720sharesissuedand1,295sharesoutstandingat\nDecember31,2018and1,712sharesissuedand1,014sharesoutstandingatDecember31,2017andcapital\nsurplus\n45,440 \n32,096\nTreasurystock,atcost:425sharesatDecember31,2018and698sharesatDecember31,2017\n(28,228) \n(37,796)\nRetainedearnings\n40,911 \n43,556\nAccumulatedothercomprehensiveincome(loss)\n102 \n(165)\nTotalCVSHealthshareholdersequity\n58,225 \n37,691\nNoncontrollinginterests\n318 \n4\nTotalshareholdersequity\n58,543 \n37,695\nTotalliabilitiesandshareholdersequity\n$\n196,456 $\n95,131\n\n\n \nSeeaccompanyingnotestoconsolidatedfinancialstatements.\nPage40"
799 ],
800 "reference_idx": [
801 21688,
802 21690
803 ],
804 "question": "What is the FY2018 fixed asset turnover ratio for CVS Health? Fixed asset turnover ratio is defined as: FY2018 revenue / (average PP&E between FY2017 and FY2018). Round your answer to two decimal places. Calculate what was asked by utilizing the line items clearly shown in the P&L statement and the balance sheet.",
805 "answer": "17.98"
806 },
807 "other_info": {
808 "financebench_id": "financebench_id_05915",
809 "company": "CVS Health",
810 "doc_name": "CVSHEALTH_2018_10K",
811 "question_type": "metrics-generated",
812 "question_reasoning": "Numerical reasoning",
813 "domain_question_num": null,
814 "question": "What is the FY2018 fixed asset turnover ratio for CVS Health? Fixed asset turnover ratio is defined as: FY2018 revenue / (average PP&E between FY2017 and FY2018). Round your answer to two decimal places. Calculate what was asked by utilizing the line items clearly shown in the P&L statement and the balance sheet.",
815 "answer": "17.98",
816 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Total revenue. This metric was located in the 10K as a single line item named: Total revenues.\n\nMetric 2: Ppne, net. This metric was located in the 10K as a single line item named: Property and equipment, net.",
817 "dataset_subset_label": "OPEN_SOURCE",
818 "evidence": [
819 {
820 "evidence_text": "ConsolidatedStatementsofOperations\n\nFortheYearsEndedDecember31,\nIn millions, except per share amounts\n2018\n\n2017\n\n2016\nRevenues:\n\n \n \nProducts\n$\n183,910 $\n180,063 $\n173,377\nPremiums\n8,184 \n3,558 \n3,069\nServices\n1,825 \n1,144 \n1,080\nNetinvestmentincome\n660 \n21 \n20\nTotalrevenues\n194,579 \n184,786 \n177,546\nOperatingcosts:\n\n \n \nCostofproductssold\n156,447 \n153,448 \n146,533\nBenefitcosts\n6,594 \n2,810 \n2,179\nGoodwillimpairments\n6,149 \n181 \n\nOperatingexpenses\n21,368 \n18,809 \n18,448\nTotaloperatingcosts\n190,558 \n175,248 \n167,160\nOperatingincome\n4,021 \n9,538 \n10,386\nInterestexpense\n2,619 \n1,062 \n1,078\nLossonearlyextinguishmentofdebt\n \n \n643\nOtherexpense(income)\n(4) \n208 \n28\nIncomebeforeincometaxprovision\n1,406 \n8,268 \n8,637\nIncometaxprovision\n2,002 \n1,637 \n3,317\nIncome(loss)fromcontinuingoperations\n(596) \n6,631 \n5,320\nLossfromdiscontinuedoperations,netoftax\n \n(8) \n(1)\nNetincome(loss)\n(596) \n6,623 \n5,319\nNet(income)lossattributabletononcontrollinginterests\n2 \n(1) \n(2)\nNetincome(loss)attributabletoCVSHealth\n$\n(594) $\n6,622 $\n5,317\n\n\n \n \nBasicearnings(loss)pershare:\n\n \n \nIncome(loss)fromcontinuingoperationsattributabletoCVSHealth\n$\n(0.57) $\n6.48 $\n4.93\nLossfromdiscontinuedoperationsattributabletoCVSHealth\n$\n $\n(0.01) $\n\nNetincome(loss)attributabletoCVSHealth\n$\n(0.57) $\n6.47 $\n4.93\nWeightedaveragebasicsharesoutstanding\n1,044 \n1,020 \n1,073\nDilutedearnings(loss)pershare:\n\n \n \nIncome(loss)fromcontinuingoperationsattributabletoCVSHealth\n$\n(0.57) $\n6.45 $\n4.91\nLossfromdiscontinuedoperationsattributabletoCVSHealth\n$\n $\n(0.01) $\n\nNetincome(loss)attributabletoCVSHealth\n$\n(0.57) $\n6.44 $\n4.90\nWeightedaveragedilutedsharesoutstanding\n1,044 \n1,024 \n1,079\nDividendsdeclaredpershare\n$\n2.00 $\n2.00 $\n1.70\n\n\n \n \nSeeaccompanyingnotestoconsolidatedfinancialstatements.\nPage38",
821 "doc_name": "CVSHEALTH_2018_10K",
822 "evidence_page_num": 301,
823 "evidence_text_full_page": "ConsolidatedStatementsofOperations\n\nFortheYearsEndedDecember31,\nIn millions, except per share amounts\n2018\n\n2017\n\n2016\nRevenues:\n\n \n \nProducts\n$\n183,910 $\n180,063 $\n173,377\nPremiums\n8,184 \n3,558 \n3,069\nServices\n1,825 \n1,144 \n1,080\nNetinvestmentincome\n660 \n21 \n20\nTotalrevenues\n194,579 \n184,786 \n177,546\nOperatingcosts:\n\n \n \nCostofproductssold\n156,447 \n153,448 \n146,533\nBenefitcosts\n6,594 \n2,810 \n2,179\nGoodwillimpairments\n6,149 \n181 \n\nOperatingexpenses\n21,368 \n18,809 \n18,448\nTotaloperatingcosts\n190,558 \n175,248 \n167,160\nOperatingincome\n4,021 \n9,538 \n10,386\nInterestexpense\n2,619 \n1,062 \n1,078\nLossonearlyextinguishmentofdebt\n \n \n643\nOtherexpense(income)\n(4) \n208 \n28\nIncomebeforeincometaxprovision\n1,406 \n8,268 \n8,637\nIncometaxprovision\n2,002 \n1,637 \n3,317\nIncome(loss)fromcontinuingoperations\n(596) \n6,631 \n5,320\nLossfromdiscontinuedoperations,netoftax\n \n(8) \n(1)\nNetincome(loss)\n(596) \n6,623 \n5,319\nNet(income)lossattributabletononcontrollinginterests\n2 \n(1) \n(2)\nNetincome(loss)attributabletoCVSHealth\n$\n(594) $\n6,622 $\n5,317\n\n\n \n \nBasicearnings(loss)pershare:\n\n \n \nIncome(loss)fromcontinuingoperationsattributabletoCVSHealth\n$\n(0.57) $\n6.48 $\n4.93\nLossfromdiscontinuedoperationsattributabletoCVSHealth\n$\n $\n(0.01) $\n\nNetincome(loss)attributabletoCVSHealth\n$\n(0.57) $\n6.47 $\n4.93\nWeightedaveragebasicsharesoutstanding\n1,044 \n1,020 \n1,073\nDilutedearnings(loss)pershare:\n\n \n \nIncome(loss)fromcontinuingoperationsattributabletoCVSHealth\n$\n(0.57) $\n6.45 $\n4.91\nLossfromdiscontinuedoperationsattributabletoCVSHealth\n$\n $\n(0.01) $\n\nNetincome(loss)attributabletoCVSHealth\n$\n(0.57) $\n6.44 $\n4.90\nWeightedaveragedilutedsharesoutstanding\n1,044 \n1,024 \n1,079\nDividendsdeclaredpershare\n$\n2.00 $\n2.00 $\n1.70\n\n\n \n \nSeeaccompanyingnotestoconsolidatedfinancialstatements.\nPage38\n"
824 },
825 {
826 "evidence_text": "ConsolidatedBalanceSheets\n\nAtDecember31,\nIn millions, except per share amounts\n2018\n\n2017\nAssets:\n\n \nCashandcashequivalents\n$\n4,059 $\n1,696\nInvestments\n2,522 \n111\nAccountsreceivable,net\n17,631 \n13,181\nInventories\n16,450 \n15,296\nOthercurrentassets\n4,581 \n945\nTotalcurrentassets\n45,243 \n31,229\nLong-terminvestments\n15,732 \n112\nPropertyandequipment,net\n11,349 \n10,292\nGoodwill\n78,678 \n38,451\nIntangibleassets,net\n36,524 \n13,630\nSeparateaccountsassets\n3,884 \n\nOtherassets\n5,046 \n1,417\nTotalassets\n$\n196,456 $\n95,131\n\n\n \nLiabilities:\n\n \nAccountspayable\n$\n8,925 $\n8,863\nPharmacyclaimsanddiscountspayable\n12,302 \n10,355\nHealthcarecostspayable\n5,210 \n5\nPolicyholdersfunds\n2,939 \n\nAccruedexpenses\n10,711 \n6,581\nOtherinsuranceliabilities\n1,937 \n23\nShort-termdebt\n720 \n1,276\nCurrentportionoflong-termdebt\n1,265 \n3,545\nTotalcurrentliabilities\n44,009 \n30,648\nLong-termdebt\n71,444 \n22,181\nDeferredincometaxes\n7,677 \n2,996\nSeparateaccountsliabilities\n3,884 \n\nOtherlong-terminsuranceliabilities\n8,119 \n334\nOtherlong-termliabilities\n2,780 \n1,277\nTotalliabilities\n137,913 \n57,436\nCommitmentsandcontingencies(Note16)\n\n\n\n \nShareholdersequity:\n\n\n\nCVSHealthshareholdersequity:\n\n \nPreferredstock,parvalue$0.01:0.1sharesauthorized;noneissuedoroutstanding\n \n\nCommonstock,parvalue$0.01:3,200sharesauthorized;1,720sharesissuedand1,295sharesoutstandingat\nDecember31,2018and1,712sharesissuedand1,014sharesoutstandingatDecember31,2017andcapital\nsurplus\n45,440 \n32,096\nTreasurystock,atcost:425sharesatDecember31,2018and698sharesatDecember31,2017\n(28,228) \n(37,796)\nRetainedearnings\n40,911 \n43,556\nAccumulatedothercomprehensiveincome(loss)\n102 \n(165)\nTotalCVSHealthshareholdersequity\n58,225 \n37,691\nNoncontrollinginterests\n318 \n4\nTotalshareholdersequity\n58,543 \n37,695\nTotalliabilitiesandshareholdersequity\n$\n196,456 $\n95,131\n\n\n \nSeeaccompanyingnotestoconsolidatedfinancialstatements.\nPage40",
827 "doc_name": "CVSHEALTH_2018_10K",
828 "evidence_page_num": 303,
829 "evidence_text_full_page": "ConsolidatedBalanceSheets\n\nAtDecember31,\nIn millions, except per share amounts\n2018\n\n2017\nAssets:\n\n \nCashandcashequivalents\n$\n4,059 $\n1,696\nInvestments\n2,522 \n111\nAccountsreceivable,net\n17,631 \n13,181\nInventories\n16,450 \n15,296\nOthercurrentassets\n4,581 \n945\nTotalcurrentassets\n45,243 \n31,229\nLong-terminvestments\n15,732 \n112\nPropertyandequipment,net\n11,349 \n10,292\nGoodwill\n78,678 \n38,451\nIntangibleassets,net\n36,524 \n13,630\nSeparateaccountsassets\n3,884 \n\nOtherassets\n5,046 \n1,417\nTotalassets\n$\n196,456 $\n95,131\n\n\n \nLiabilities:\n\n \nAccountspayable\n$\n8,925 $\n8,863\nPharmacyclaimsanddiscountspayable\n12,302 \n10,355\nHealthcarecostspayable\n5,210 \n5\nPolicyholdersfunds\n2,939 \n\nAccruedexpenses\n10,711 \n6,581\nOtherinsuranceliabilities\n1,937 \n23\nShort-termdebt\n720 \n1,276\nCurrentportionoflong-termdebt\n1,265 \n3,545\nTotalcurrentliabilities\n44,009 \n30,648\nLong-termdebt\n71,444 \n22,181\nDeferredincometaxes\n7,677 \n2,996\nSeparateaccountsliabilities\n3,884 \n\nOtherlong-terminsuranceliabilities\n8,119 \n334\nOtherlong-termliabilities\n2,780 \n1,277\nTotalliabilities\n137,913 \n57,436\nCommitmentsandcontingencies(Note16)\n\n\n\n \nShareholdersequity:\n\n\n\nCVSHealthshareholdersequity:\n\n \nPreferredstock,parvalue$0.01:0.1sharesauthorized;noneissuedoroutstanding\n \n\nCommonstock,parvalue$0.01:3,200sharesauthorized;1,720sharesissuedand1,295sharesoutstandingat\nDecember31,2018and1,712sharesissuedand1,014sharesoutstandingatDecember31,2017andcapital\nsurplus\n45,440 \n32,096\nTreasurystock,atcost:425sharesatDecember31,2018and698sharesatDecember31,2017\n(28,228) \n(37,796)\nRetainedearnings\n40,911 \n43,556\nAccumulatedothercomprehensiveincome(loss)\n102 \n(165)\nTotalCVSHealthshareholdersequity\n58,225 \n37,691\nNoncontrollinginterests\n318 \n4\nTotalshareholdersequity\n58,543 \n37,695\nTotalliabilitiesandshareholdersequity\n$\n196,456 $\n95,131\n\n\n \nSeeaccompanyingnotestoconsolidatedfinancialstatements.\nPage40\n"
830 }
831 ]
832 }
833 },
834 {
835 "key_content": {
836 "reference": [
837 "NIKE, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYEAR ENDED MAY 31,\n(Dollars in millions)\n2023\n2022\n2021\nCash provided (used) by operations:\nNet income\n$ \n5,070 $ \n6,046 $ \n5,727 \nAdjustments to reconcile net income to net cash provided (used) by operations:\nDepreciation\n \n703 \n717 \n744 \nDeferred income taxes\n \n(117) \n(650) \n(385) \nStock-based compensation\n \n755 \n638 \n611 \nAmortization, impairment and other\n \n156 \n123 \n53 \nNet foreign currency adjustments\n \n(213) \n(26) \n(138) \nChanges in certain working capital components and other assets and liabilities:\n(Increase) decrease in accounts receivable\n \n489 \n(504) \n(1,606) \n(Increase) decrease in inventories\n \n(133) \n(1,676) \n507 \n(Increase) decrease in prepaid expenses, operating lease right-of-use assets and \nother current and non-current assets\n \n(644) \n(845) \n(182) \nIncrease (decrease) in accounts payable, accrued liabilities, operating lease liabilities \nand other current and non-current liabilities\n \n(225) \n1,365 \n1,326 \nCash provided (used) by operations\n \n5,841 \n5,188 \n6,657 \nCash provided (used) by investing activities:\nPurchases of short-term investments\n \n(6,059) \n(12,913) \n(9,961) \nMaturities of short-term investments\n \n3,356 \n8,199 \n4,236 \nSales of short-term investments\n \n4,184 \n3,967 \n2,449 \nAdditions to property, plant and equipment\n \n(969) \n(758) \n(695) \nOther investing activities\n \n52 \n(19) \n171 \nCash provided (used) by investing activities\n \n564 \n(1,524) \n(3,800) \nCash provided (used) by financing activities:\nIncrease (decrease) in notes payable, net\n \n(4) \n15 \n(52) \nRepayment of borrowings\n \n(500) \n \n(197) \nProceeds from exercise of stock options and other stock issuances\n \n651 \n1,151 \n1,172 \nRepurchase of common stock\n \n(5,480) \n(4,014) \n(608) \nDividends common and preferred\n \n(2,012) \n(1,837) \n(1,638) \nOther financing activities\n \n(102) \n(151) \n(136) \nCash provided (used) by financing activities\n \n(7,447) \n(4,836) \n(1,459) \nEffect of exchange rate changes on cash and equivalents\n \n(91) \n(143) \n143 \nNet increase (decrease) in cash and equivalents\n \n(1,133) \n(1,315) \n1,541 \nCash and equivalents, beginning of year\n \n8,574 \n9,889 \n8,348 \nCASH AND EQUIVALENTS, END OF YEAR\n$ \n7,441 $ \n8,574 $ \n9,889"
838 ],
839 "reference_idx": [
840 39362
841 ],
842 "question": "Among operations, investing, and financing activities, which brought in the most (or lost the least) cash flow for Nike in FY2023?",
843 "answer": "Among the three, cash flow from operations was the highest for Nike in FY2023."
844 },
845 "other_info": {
846 "financebench_id": "financebench_id_01163",
847 "company": "Nike",
848 "doc_name": "NIKE_2023_10K",
849 "question_type": "domain-relevant",
850 "question_reasoning": "Numerical reasoning",
851 "domain_question_num": "dg19",
852 "question": "Among operations, investing, and financing activities, which brought in the most (or lost the least) cash flow for Nike in FY2023?",
853 "answer": "Among the three, cash flow from operations was the highest for Nike in FY2023.",
854 "justification": null,
855 "dataset_subset_label": "OPEN_SOURCE",
856 "evidence": [
857 {
858 "evidence_text": "NIKE, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYEAR ENDED MAY 31,\n(Dollars in millions)\n2023\n2022\n2021\nCash provided (used) by operations:\nNet income\n$ \n5,070 $ \n6,046 $ \n5,727 \nAdjustments to reconcile net income to net cash provided (used) by operations:\nDepreciation\n \n703 \n717 \n744 \nDeferred income taxes\n \n(117) \n(650) \n(385) \nStock-based compensation\n \n755 \n638 \n611 \nAmortization, impairment and other\n \n156 \n123 \n53 \nNet foreign currency adjustments\n \n(213) \n(26) \n(138) \nChanges in certain working capital components and other assets and liabilities:\n(Increase) decrease in accounts receivable\n \n489 \n(504) \n(1,606) \n(Increase) decrease in inventories\n \n(133) \n(1,676) \n507 \n(Increase) decrease in prepaid expenses, operating lease right-of-use assets and \nother current and non-current assets\n \n(644) \n(845) \n(182) \nIncrease (decrease) in accounts payable, accrued liabilities, operating lease liabilities \nand other current and non-current liabilities\n \n(225) \n1,365 \n1,326 \nCash provided (used) by operations\n \n5,841 \n5,188 \n6,657 \nCash provided (used) by investing activities:\nPurchases of short-term investments\n \n(6,059) \n(12,913) \n(9,961) \nMaturities of short-term investments\n \n3,356 \n8,199 \n4,236 \nSales of short-term investments\n \n4,184 \n3,967 \n2,449 \nAdditions to property, plant and equipment\n \n(969) \n(758) \n(695) \nOther investing activities\n \n52 \n(19) \n171 \nCash provided (used) by investing activities\n \n564 \n(1,524) \n(3,800) \nCash provided (used) by financing activities:\nIncrease (decrease) in notes payable, net\n \n(4) \n15 \n(52) \nRepayment of borrowings\n \n(500) \n \n(197) \nProceeds from exercise of stock options and other stock issuances\n \n651 \n1,151 \n1,172 \nRepurchase of common stock\n \n(5,480) \n(4,014) \n(608) \nDividends common and preferred\n \n(2,012) \n(1,837) \n(1,638) \nOther financing activities\n \n(102) \n(151) \n(136) \nCash provided (used) by financing activities\n \n(7,447) \n(4,836) \n(1,459) \nEffect of exchange rate changes on cash and equivalents\n \n(91) \n(143) \n143 \nNet increase (decrease) in cash and equivalents\n \n(1,133) \n(1,315) \n1,541 \nCash and equivalents, beginning of year\n \n8,574 \n9,889 \n8,348 \nCASH AND EQUIVALENTS, END OF YEAR\n$ \n7,441 $ \n8,574 $ \n9,889",
859 "doc_name": "NIKE_2023_10K",
860 "evidence_page_num": 61,
861 "evidence_text_full_page": "NIKE, INC.\nCONSOLIDATED STATEMENTS OF CASH FLOWS\nYEAR ENDED MAY 31,\n(Dollars in millions)\n2023\n2022\n2021\nCash provided (used) by operations:\nNet income\n$ \n5,070 $ \n6,046 $ \n5,727 \nAdjustments to reconcile net income to net cash provided (used) by operations:\nDepreciation\n \n703 \n717 \n744 \nDeferred income taxes\n \n(117) \n(650) \n(385) \nStock-based compensation\n \n755 \n638 \n611 \nAmortization, impairment and other\n \n156 \n123 \n53 \nNet foreign currency adjustments\n \n(213) \n(26) \n(138) \nChanges in certain working capital components and other assets and liabilities:\n(Increase) decrease in accounts receivable\n \n489 \n(504) \n(1,606) \n(Increase) decrease in inventories\n \n(133) \n(1,676) \n507 \n(Increase) decrease in prepaid expenses, operating lease right-of-use assets and \nother current and non-current assets\n \n(644) \n(845) \n(182) \nIncrease (decrease) in accounts payable, accrued liabilities, operating lease liabilities \nand other current and non-current liabilities\n \n(225) \n1,365 \n1,326 \nCash provided (used) by operations\n \n5,841 \n5,188 \n6,657 \nCash provided (used) by investing activities:\nPurchases of short-term investments\n \n(6,059) \n(12,913) \n(9,961) \nMaturities of short-term investments\n \n3,356 \n8,199 \n4,236 \nSales of short-term investments\n \n4,184 \n3,967 \n2,449 \nAdditions to property, plant and equipment\n \n(969) \n(758) \n(695) \nOther investing activities\n \n52 \n(19) \n171 \nCash provided (used) by investing activities\n \n564 \n(1,524) \n(3,800) \nCash provided (used) by financing activities:\nIncrease (decrease) in notes payable, net\n \n(4) \n15 \n(52) \nRepayment of borrowings\n \n(500) \n \n(197) \nProceeds from exercise of stock options and other stock issuances\n \n651 \n1,151 \n1,172 \nRepurchase of common stock\n \n(5,480) \n(4,014) \n(608) \nDividends common and preferred\n \n(2,012) \n(1,837) \n(1,638) \nOther financing activities\n \n(102) \n(151) \n(136) \nCash provided (used) by financing activities\n \n(7,447) \n(4,836) \n(1,459) \nEffect of exchange rate changes on cash and equivalents\n \n(91) \n(143) \n143 \nNet increase (decrease) in cash and equivalents\n \n(1,133) \n(1,315) \n1,541 \nCash and equivalents, beginning of year\n \n8,574 \n9,889 \n8,348 \nCASH AND EQUIVALENTS, END OF YEAR\n$ \n7,441 $ \n8,574 $ \n9,889 \nSupplemental disclosure of cash flow information:\nCash paid during the year for:\nInterest, net of capitalized interest\n$ \n347 $ \n290 $ \n293 \nIncome taxes\n \n1,517 \n1,231 \n1,177 \nNon-cash additions to property, plant and equipment\n \n211 \n160 \n179 \nDividends declared and not paid\n \n524 \n480 \n438 \nThe accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.\nNIKE, INC. \n58\n"
862 }
863 ]
864 }
865 },
866 {
867 "key_content": {
868 "reference": [
869 "Walmart Inc.\nConsolidated Statements of Income\n \n \nFiscal Years Ended January 31,\n(Amounts in millions, except per share data)\n \n2020\n \n2019\n \n2018\nRevenues:\n \n \n \nNet sales\n $\n519,926\n $\n510,329 $\n495,761\nMembership and other income\n \n4,038\n \n4,076 \n4,582\nTotal revenues\n \n523,964\n \n514,405 \n500,343\nCosts and expenses:\n \n \n \nCost of sales\n \n394,605\n \n385,301 \n373,396\nOperating, selling, general and administrative expenses\n \n108,791\n \n107,147 \n106,510\nOperating income\n \n20,568\n \n21,957 \n20,437\nInterest:\n \n \n \nDebt\n \n2,262\n \n1,975 \n1,978\nFinance, capital lease and financing obligations\n \n337\n \n371 \n352\nInterest income\n \n(189) \n(217) \n(152)\nInterest, net\n \n2,410\n \n2,129 \n2,178\nLoss on extinguishment of debt\n \n\n \n \n3,136\nOther (gains) and losses\n \n(1,958) \n8,368 \n\nIncome before income taxes\n \n20,116\n \n11,460 \n15,123\nProvision for income taxes\n \n4,915\n \n4,281 \n4,600\nConsolidated net income\n \n15,201\n \n7,179 \n10,523\nConsolidated net income attributable to noncontrolling interest\n \n(320) \n(509) \n(661)\nConsolidated net income attributable to Walmart\n $\n14,881\n $\n6,670 $\n9,862\n \n \n \n \nNet income per common share:\n \n \n \nBasic net income per common share attributable to Walmart\n $\n5.22\n $\n2.28 $\n3.29\nDiluted net income per common share attributable to Walmart\n \n5.19\n \n2.26 \n3.28\n \n \n \n \nWeighted-average common shares outstanding:\n \n \n \nBasic\n \n2,850\n \n2,929 \n2,995\nDiluted\n \n2,868\n \n2,945 \n3,010\n \n \n \n \nDividends declared per common share\n $\n2.12\n $\n2.08 $\n2.04\nSee accompanying notes.\n50",
870 "Walmart Inc.\nConsolidated Statements of Cash Flows\n \n \nFiscal Years Ended January 31,\n(Amounts in millions)\n \n2020\n \n2019\n \n2018\nCash flows from operating activities:\n \n \n \nConsolidated net income\n $\n15,201\n $\n7,179 $\n10,523\nAdjustments to reconcile consolidated net income to net cash provided by operating activities:\n \n \n \nDepreciation and amortization\n \n10,987\n \n10,678 \n10,529\nUnrealized (gains) and losses\n \n(1,886) \n3,516 \n\n(Gains) and losses for disposal of business operations\n \n15\n \n4,850 \n\nAsda pension contribution\n \n(1,036) \n \n\nDeferred income taxes\n \n320\n \n(499) \n(304)\nLoss on extinguishment of debt\n \n\n \n \n3,136\nOther operating activities\n \n1,981\n \n1,734 \n1,210\nChanges in certain assets and liabilities, net of effects of acquisitions:\n \n \n \nReceivables, net\n \n154\n \n(368) \n(1,074)\nInventories\n \n(300) \n(1,311) \n(140)\nAccounts payable\n \n(274) \n1,831 \n4,086\nAccrued liabilities\n \n186\n \n183 \n928\nAccrued income taxes\n \n(93) \n(40) \n(557)\nNet cash provided by operating activities\n \n25,255\n \n27,753 \n28,337\n \n \n \n \nCash flows from investing activities:\n \n \n \nPayments for property and equipment\n \n(10,705) \n(10,344) \n(10,051)\nProceeds from the disposal of property and equipment\n \n321\n \n519 \n378\nProceeds from the disposal of certain operations\n \n833\n \n876 \n1,046\nPayments for business acquisitions, net of cash acquired\n \n(56) \n(14,656) \n(375)\nOther investing activities\n \n479\n \n(431) \n(77)\nNet cash used in investing activities\n \n(9,128) \n(24,036) \n(9,079)\n \n \n \n \nCash flows from financing activities:\n \n \n \nNet change in short-term borrowings\n \n(4,656) \n(53) \n4,148\nProceeds from issuance of long-term debt\n \n5,492\n \n15,872 \n7,476\nRepayments of long-term debt\n \n(1,907) \n(3,784) \n(13,061)\nPremiums paid to extinguish debt\n \n\n \n \n(3,059)\nDividends paid\n \n(6,048) \n(6,102) \n(6,124)\nPurchase of Company stock\n \n(5,717) \n(7,410) \n(8,296)\nDividends paid to noncontrolling interest\n \n(555) \n(431) \n(690)\nPurchase of noncontrolling interest\n \n\n \n \n(8)\nOther financing activities\n \n(908) \n(629) \n(261)\nNet cash used in financing activities\n \n(14,299) \n(2,537) \n(19,875)\n \n \n \n \nEffect of exchange rates on cash, cash equivalents and restricted cash\n \n(69) \n(438) \n487\n \n \n \n \nNet increase (decrease) in cash, cash equivalents and restricted cash\n \n1,759\n \n742 \n(130)\nCash, cash equivalents and restricted cash at beginning of year\n \n7,756\n \n7,014 \n7,144\nCash, cash equivalents and restricted cash at end of year\n $\n9,515\n $\n7,756 $\n7,014\n \n \n \n \nSupplemental disclosure of cash flow information:\n \n \n \nIncome taxes paid\n $\n3,616\n $\n3,982 $\n6,179\nInterest paid\n \n2,464\n \n2,348 \n2,450\nSee accompanying notes."
871 ],
872 "reference_idx": [
873 53362,
874 53367
875 ],
876 "question": "What is the FY2018 - FY2020 3 year average unadjusted EBITDA % margin for Walmart? Define unadjusted EBITDA as unadjusted operating income + depreciation and amortization from the cash flow statement. Answer in units of percents and round to one decimal place. Calculate what was asked by utilizing the line items clearly shown in the P&L statement and the cash flow statement.",
877 "answer": "6.2%"
878 },
879 "other_info": {
880 "financebench_id": "financebench_id_06741",
881 "company": "Walmart",
882 "doc_name": "WALMART_2020_10K",
883 "question_type": "metrics-generated",
884 "question_reasoning": "Numerical reasoning",
885 "domain_question_num": null,
886 "question": "What is the FY2018 - FY2020 3 year average unadjusted EBITDA % margin for Walmart? Define unadjusted EBITDA as unadjusted operating income + depreciation and amortization from the cash flow statement. Answer in units of percents and round to one decimal place. Calculate what was asked by utilizing the line items clearly shown in the P&L statement and the cash flow statement.",
887 "answer": "6.2%",
888 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Depreciation and amortization. This metric was located in the 10K as a single line item named: Depreciation and amortization.\n\nMetric 2: Unadjusted operating income. This metric was located in the 10K as a single line item named: Operating income.\n\nMetric 3: Total revenue. This metric was located in the 10K as a single line item named: Total revenues.",
889 "dataset_subset_label": "OPEN_SOURCE",
890 "evidence": [
891 {
892 "evidence_text": "Walmart Inc.\nConsolidated Statements of Income\n \n \nFiscal Years Ended January 31,\n(Amounts in millions, except per share data)\n \n2020\n \n2019\n \n2018\nRevenues:\n \n \n \nNet sales\n $\n519,926\n $\n510,329 $\n495,761\nMembership and other income\n \n4,038\n \n4,076 \n4,582\nTotal revenues\n \n523,964\n \n514,405 \n500,343\nCosts and expenses:\n \n \n \nCost of sales\n \n394,605\n \n385,301 \n373,396\nOperating, selling, general and administrative expenses\n \n108,791\n \n107,147 \n106,510\nOperating income\n \n20,568\n \n21,957 \n20,437\nInterest:\n \n \n \nDebt\n \n2,262\n \n1,975 \n1,978\nFinance, capital lease and financing obligations\n \n337\n \n371 \n352\nInterest income\n \n(189) \n(217) \n(152)\nInterest, net\n \n2,410\n \n2,129 \n2,178\nLoss on extinguishment of debt\n \n\n \n \n3,136\nOther (gains) and losses\n \n(1,958) \n8,368 \n\nIncome before income taxes\n \n20,116\n \n11,460 \n15,123\nProvision for income taxes\n \n4,915\n \n4,281 \n4,600\nConsolidated net income\n \n15,201\n \n7,179 \n10,523\nConsolidated net income attributable to noncontrolling interest\n \n(320) \n(509) \n(661)\nConsolidated net income attributable to Walmart\n $\n14,881\n $\n6,670 $\n9,862\n \n \n \n \nNet income per common share:\n \n \n \nBasic net income per common share attributable to Walmart\n $\n5.22\n $\n2.28 $\n3.29\nDiluted net income per common share attributable to Walmart\n \n5.19\n \n2.26 \n3.28\n \n \n \n \nWeighted-average common shares outstanding:\n \n \n \nBasic\n \n2,850\n \n2,929 \n2,995\nDiluted\n \n2,868\n \n2,945 \n3,010\n \n \n \n \nDividends declared per common share\n $\n2.12\n $\n2.08 $\n2.04\nSee accompanying notes.\n50",
893 "doc_name": "WALMART_2020_10K",
894 "evidence_page_num": 50,
895 "evidence_text_full_page": "Walmart Inc.\nConsolidated Statements of Income\n \n \nFiscal Years Ended January 31,\n(Amounts in millions, except per share data)\n \n2020\n \n2019\n \n2018\nRevenues:\n \n \n \nNet sales\n $\n519,926\n $\n510,329 $\n495,761\nMembership and other income\n \n4,038\n \n4,076 \n4,582\nTotal revenues\n \n523,964\n \n514,405 \n500,343\nCosts and expenses:\n \n \n \nCost of sales\n \n394,605\n \n385,301 \n373,396\nOperating, selling, general and administrative expenses\n \n108,791\n \n107,147 \n106,510\nOperating income\n \n20,568\n \n21,957 \n20,437\nInterest:\n \n \n \nDebt\n \n2,262\n \n1,975 \n1,978\nFinance, capital lease and financing obligations\n \n337\n \n371 \n352\nInterest income\n \n(189) \n(217) \n(152)\nInterest, net\n \n2,410\n \n2,129 \n2,178\nLoss on extinguishment of debt\n \n\n \n \n3,136\nOther (gains) and losses\n \n(1,958) \n8,368 \n\nIncome before income taxes\n \n20,116\n \n11,460 \n15,123\nProvision for income taxes\n \n4,915\n \n4,281 \n4,600\nConsolidated net income\n \n15,201\n \n7,179 \n10,523\nConsolidated net income attributable to noncontrolling interest\n \n(320) \n(509) \n(661)\nConsolidated net income attributable to Walmart\n $\n14,881\n $\n6,670 $\n9,862\n \n \n \n \nNet income per common share:\n \n \n \nBasic net income per common share attributable to Walmart\n $\n5.22\n $\n2.28 $\n3.29\nDiluted net income per common share attributable to Walmart\n \n5.19\n \n2.26 \n3.28\n \n \n \n \nWeighted-average common shares outstanding:\n \n \n \nBasic\n \n2,850\n \n2,929 \n2,995\nDiluted\n \n2,868\n \n2,945 \n3,010\n \n \n \n \nDividends declared per common share\n $\n2.12\n $\n2.08 $\n2.04\nSee accompanying notes.\n50\n"
896 },
897 {
898 "evidence_text": "Walmart Inc.\nConsolidated Statements of Cash Flows\n \n \nFiscal Years Ended January 31,\n(Amounts in millions)\n \n2020\n \n2019\n \n2018\nCash flows from operating activities:\n \n \n \nConsolidated net income\n $\n15,201\n $\n7,179 $\n10,523\nAdjustments to reconcile consolidated net income to net cash provided by operating activities:\n \n \n \nDepreciation and amortization\n \n10,987\n \n10,678 \n10,529\nUnrealized (gains) and losses\n \n(1,886) \n3,516 \n\n(Gains) and losses for disposal of business operations\n \n15\n \n4,850 \n\nAsda pension contribution\n \n(1,036) \n \n\nDeferred income taxes\n \n320\n \n(499) \n(304)\nLoss on extinguishment of debt\n \n\n \n \n3,136\nOther operating activities\n \n1,981\n \n1,734 \n1,210\nChanges in certain assets and liabilities, net of effects of acquisitions:\n \n \n \nReceivables, net\n \n154\n \n(368) \n(1,074)\nInventories\n \n(300) \n(1,311) \n(140)\nAccounts payable\n \n(274) \n1,831 \n4,086\nAccrued liabilities\n \n186\n \n183 \n928\nAccrued income taxes\n \n(93) \n(40) \n(557)\nNet cash provided by operating activities\n \n25,255\n \n27,753 \n28,337\n \n \n \n \nCash flows from investing activities:\n \n \n \nPayments for property and equipment\n \n(10,705) \n(10,344) \n(10,051)\nProceeds from the disposal of property and equipment\n \n321\n \n519 \n378\nProceeds from the disposal of certain operations\n \n833\n \n876 \n1,046\nPayments for business acquisitions, net of cash acquired\n \n(56) \n(14,656) \n(375)\nOther investing activities\n \n479\n \n(431) \n(77)\nNet cash used in investing activities\n \n(9,128) \n(24,036) \n(9,079)\n \n \n \n \nCash flows from financing activities:\n \n \n \nNet change in short-term borrowings\n \n(4,656) \n(53) \n4,148\nProceeds from issuance of long-term debt\n \n5,492\n \n15,872 \n7,476\nRepayments of long-term debt\n \n(1,907) \n(3,784) \n(13,061)\nPremiums paid to extinguish debt\n \n\n \n \n(3,059)\nDividends paid\n \n(6,048) \n(6,102) \n(6,124)\nPurchase of Company stock\n \n(5,717) \n(7,410) \n(8,296)\nDividends paid to noncontrolling interest\n \n(555) \n(431) \n(690)\nPurchase of noncontrolling interest\n \n\n \n \n(8)\nOther financing activities\n \n(908) \n(629) \n(261)\nNet cash used in financing activities\n \n(14,299) \n(2,537) \n(19,875)\n \n \n \n \nEffect of exchange rates on cash, cash equivalents and restricted cash\n \n(69) \n(438) \n487\n \n \n \n \nNet increase (decrease) in cash, cash equivalents and restricted cash\n \n1,759\n \n742 \n(130)\nCash, cash equivalents and restricted cash at beginning of year\n \n7,756\n \n7,014 \n7,144\nCash, cash equivalents and restricted cash at end of year\n $\n9,515\n $\n7,756 $\n7,014\n \n \n \n \nSupplemental disclosure of cash flow information:\n \n \n \nIncome taxes paid\n $\n3,616\n $\n3,982 $\n6,179\nInterest paid\n \n2,464\n \n2,348 \n2,450\nSee accompanying notes.",
899 "doc_name": "WALMART_2020_10K",
900 "evidence_page_num": 55,
901 "evidence_text_full_page": "Walmart Inc.\nConsolidated Statements of Cash Flows\n \n \nFiscal Years Ended January 31,\n(Amounts in millions)\n \n2020\n \n2019\n \n2018\nCash flows from operating activities:\n \n \n \nConsolidated net income\n $\n15,201\n $\n7,179 $\n10,523\nAdjustments to reconcile consolidated net income to net cash provided by operating activities:\n \n \n \nDepreciation and amortization\n \n10,987\n \n10,678 \n10,529\nUnrealized (gains) and losses\n \n(1,886) \n3,516 \n\n(Gains) and losses for disposal of business operations\n \n15\n \n4,850 \n\nAsda pension contribution\n \n(1,036) \n \n\nDeferred income taxes\n \n320\n \n(499) \n(304)\nLoss on extinguishment of debt\n \n\n \n \n3,136\nOther operating activities\n \n1,981\n \n1,734 \n1,210\nChanges in certain assets and liabilities, net of effects of acquisitions:\n \n \n \nReceivables, net\n \n154\n \n(368) \n(1,074)\nInventories\n \n(300) \n(1,311) \n(140)\nAccounts payable\n \n(274) \n1,831 \n4,086\nAccrued liabilities\n \n186\n \n183 \n928\nAccrued income taxes\n \n(93) \n(40) \n(557)\nNet cash provided by operating activities\n \n25,255\n \n27,753 \n28,337\n \n \n \n \nCash flows from investing activities:\n \n \n \nPayments for property and equipment\n \n(10,705) \n(10,344) \n(10,051)\nProceeds from the disposal of property and equipment\n \n321\n \n519 \n378\nProceeds from the disposal of certain operations\n \n833\n \n876 \n1,046\nPayments for business acquisitions, net of cash acquired\n \n(56) \n(14,656) \n(375)\nOther investing activities\n \n479\n \n(431) \n(77)\nNet cash used in investing activities\n \n(9,128) \n(24,036) \n(9,079)\n \n \n \n \nCash flows from financing activities:\n \n \n \nNet change in short-term borrowings\n \n(4,656) \n(53) \n4,148\nProceeds from issuance of long-term debt\n \n5,492\n \n15,872 \n7,476\nRepayments of long-term debt\n \n(1,907) \n(3,784) \n(13,061)\nPremiums paid to extinguish debt\n \n\n \n \n(3,059)\nDividends paid\n \n(6,048) \n(6,102) \n(6,124)\nPurchase of Company stock\n \n(5,717) \n(7,410) \n(8,296)\nDividends paid to noncontrolling interest\n \n(555) \n(431) \n(690)\nPurchase of noncontrolling interest\n \n\n \n \n(8)\nOther financing activities\n \n(908) \n(629) \n(261)\nNet cash used in financing activities\n \n(14,299) \n(2,537) \n(19,875)\n \n \n \n \nEffect of exchange rates on cash, cash equivalents and restricted cash\n \n(69) \n(438) \n487\n \n \n \n \nNet increase (decrease) in cash, cash equivalents and restricted cash\n \n1,759\n \n742 \n(130)\nCash, cash equivalents and restricted cash at beginning of year\n \n7,756\n \n7,014 \n7,144\nCash, cash equivalents and restricted cash at end of year\n $\n9,515\n $\n7,756 $\n7,014\n \n \n \n \nSupplemental disclosure of cash flow information:\n \n \n \nIncome taxes paid\n $\n3,616\n $\n3,982 $\n6,179\nInterest paid\n \n2,464\n \n2,348 \n2,450\nSee accompanying notes.\n"
902 }
903 ]
904 }
905 },
906 {
907 "key_content": {
908 "reference": [
909 "Overview\nWe are a global semiconductor company primarily offering:\n\nserver microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and\nAdaptive System-on-Chip (SoC) products for data centers;\n\nCPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers;\n\ndiscrete GPUs, and semi-custom SoC products and development services; and\n\nembedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.\nFrom time to time, we may also sell or license portions of our intellectual property (IP) portfolio."
910 ],
911 "reference_idx": [
912 9794
913 ],
914 "question": "What are the major products and services that AMD sells as of FY22?",
915 "answer": "AMD sells server microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and Adaptive System-on-Chip (SoC) products for data centers; CPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers; discrete GPUs, and semi-custom SoC products and development services; and embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products."
916 },
917 "other_info": {
918 "financebench_id": "financebench_id_00995",
919 "company": "AMD",
920 "doc_name": "AMD_2022_10K",
921 "question_type": "domain-relevant",
922 "question_reasoning": "Information extraction",
923 "domain_question_num": "dg07",
924 "question": "What are the major products and services that AMD sells as of FY22?",
925 "answer": "AMD sells server microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and Adaptive System-on-Chip (SoC) products for data centers; CPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers; discrete GPUs, and semi-custom SoC products and development services; and embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.",
926 "justification": null,
927 "dataset_subset_label": "OPEN_SOURCE",
928 "evidence": [
929 {
930 "evidence_text": "Overview\nWe are a global semiconductor company primarily offering:\n\nserver microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and\nAdaptive System-on-Chip (SoC) products for data centers;\n\nCPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers;\n\ndiscrete GPUs, and semi-custom SoC products and development services; and\n\nembedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.\nFrom time to time, we may also sell or license portions of our intellectual property (IP) portfolio.",
931 "doc_name": "AMD_2022_10K",
932 "evidence_page_num": 3,
933 "evidence_text_full_page": "Table of Contents\nPART I\nITEM 1. BUSINESS\nCautionary Statement Regarding Forward-Looking Statements\nThe statements in this report include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-\nlooking statements are based on current expectations and beliefs and involve numerous risks and uncertainties that could cause actual results to differ\nmaterially from expectations. These forward-looking statements speak only as of the date hereof or as of the dates indicated in the statements and should not\nbe relied upon as predictions of future events, as we cannot assure you that the events or circumstances reflected in these statements will be achieved or will\noccur. You can identify forward-looking statements by the use of forward-looking terminology including believes, expects, may, will, should, seeks,\nintends, plans, pro forma, estimates, anticipates, or the negative of these words and phrases, other variations of these words and phrases or\ncomparable terminology. The forward-looking statements relate to, among other things: possible impact of future accounting rules on AMDs consolidated\nfinancial statements; demand for AMDs products; the growth, change and competitive landscape of the markets in which AMD participates; international sales\nwill continue to be a significant portion of total sales in the foreseeable future; that AMDs cash, cash equivalents and short-term investment balances together\nwith the availability under that certain revolving credit facility (the Revolving Credit Agreement) made available to AMD and certain of its subsidiaries, our\ncommercial paper program, and our cash flows from operations will be sufficient to fund AMDs operations including capital expenditures and purchase\ncommitments over the next 12 months and beyond; AMDs ability to obtain sufficient external financing on favorable terms, or at all; AMDs expectation that\nbased on managements current knowledge, the potential liability related to AMDs current litigation will not have a material adverse effect on its financial\nposition, results of operation or cash flows; anticipated ongoing and increased costs related to enhancing and implementing information security controls; all\nunbilled accounts receivables are expected to be billed and collected within 12 months; revenue allocated to remaining performance obligations that are\nunsatisfied which will be recognized in the next 12 months; and a small number of customers will continue to account for a substantial part of AMDs revenue in\nthe future. For a discussion of the factors that could cause actual results to differ materially from the forward-looking statements, see Part I, Item 1A-Risk\nFactors and the Financial Condition section set forth in Part II, Item 7-Managements Discussion and Analysis of Financial Condition and Results of\nOperations, or MD&A, and such other risks and uncertainties as set forth below in this report or detailed in our other Securities and Exchange Commission\n(SEC) reports and filings. We assume no obligation to update forward-looking statements.\nReferences in this Annual Report on Form 10-K to AMD, we, us, management, our or the Company mean Advanced Micro Devices, Inc. and our\nconsolidated subsidiaries.\nOverview\nWe are a global semiconductor company primarily offering:\n\nserver microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and\nAdaptive System-on-Chip (SoC) products for data centers;\n\nCPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers;\n\ndiscrete GPUs, and semi-custom SoC products and development services; and\n\nembedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.\nFrom time to time, we may also sell or license portions of our intellectual property (IP) portfolio.\n1\n"
934 }
935 ]
936 }
937 },
938 {
939 "key_content": {
940 "reference": [
941 "Worldwide Sales Change \nBy Business Segment\nOrganic sales\nAcquisitions\nDivestitures\nTranslation\nTotal sales change\nSafety and Industrial\n1.0 %\n \n %\n %\n(4.2) %\n(3.2) %\nTransportation and Electronics\n1.2 \n \n(0.5)\n(4.6)\n(3.9)\nHealth Care\n3.2 \n \n(1.4)\n(3.8)\n(2.0)\nConsumer\n(0.9)\n \n(0.4)\n(2.6)\n(3.9)\nTotal Company\n1.2 \n \n(0.5)\n(3.9)\n(3.2)"
942 ],
943 "reference_idx": [
944 1263
945 ],
946 "question": "If we exclude the impact of M&A, which segment has dragged down 3M's overall growth in 2022?",
947 "answer": "The consumer segment shrunk by 0.9% organically."
948 },
949 "other_info": {
950 "financebench_id": "financebench_id_01865",
951 "company": "3M",
952 "doc_name": "3M_2022_10K",
953 "question_type": "novel-generated",
954 "question_reasoning": null,
955 "domain_question_num": null,
956 "question": "If we exclude the impact of M&A, which segment has dragged down 3M's overall growth in 2022?",
957 "answer": "The consumer segment shrunk by 0.9% organically.",
958 "justification": null,
959 "dataset_subset_label": "OPEN_SOURCE",
960 "evidence": [
961 {
962 "evidence_text": "Worldwide Sales Change \nBy Business Segment\nOrganic sales\nAcquisitions\nDivestitures\nTranslation\nTotal sales change\nSafety and Industrial\n1.0 %\n \n %\n %\n(4.2) %\n(3.2) %\nTransportation and Electronics\n1.2 \n \n(0.5)\n(4.6)\n(3.9)\nHealth Care\n3.2 \n \n(1.4)\n(3.8)\n(2.0)\nConsumer\n(0.9)\n \n(0.4)\n(2.6)\n(3.9)\nTotal Company\n1.2 \n \n(0.5)\n(3.9)\n(3.2)",
963 "doc_name": "3M_2022_10K",
964 "evidence_page_num": 24,
965 "evidence_text_full_page": "Table of Contents\nSales and operating income (loss) by business segment:\nThe following tables contain sales and operating income (loss) results by business segment for the years ended December 31, 2022 and 2021. Refer to the section entitled\nPerformance by Business Segment later in MD&A for additional discussion concerning 2022 versus 2021 results, including Corporate and Unallocated. Refer to Note 19 for\nadditional information on business segments.\n2022\n2021\n% change\n(Dollars in millions)\nNet Sales\n% of Total\nOperating\nIncome (Loss)\nNet Sales\n% of Total\nOperating\nIncome (Loss)\nNet Sales\nOperating Income\n(Loss)\nBusiness Segments\nSafety and Industrial\n$\n11,604\n33.9 % $\n1,199 $\n11,981\n33.9 % $\n2,466\n(3.2)%\n(51.4)%\nTransportation and Electronics\n8,902\n26.0 \n1,012\n9,262\n26.2 \n1,880\n(3.9)\n(46.2)\nHealth Care\n8,421\n24.6 \n1,815\n8,597\n24.3 \n2,037\n(2.0)\n(10.9)\nConsumer\n5,298\n15.5 \n994\n5,513\n15.6 \n1,162\n(3.9)\n(14.4)\nCorporate and Unallocated\n4\n \n1,519\n2\n \n(176)\nTotal Company\n$\n34,229 \n100.0 % $\n6,539 $\n35,355 \n100.0 % $\n7,369 \n(3.2)%\n(11.3)%\nYear ended December 31, 2022\nWorldwide Sales Change \nBy Business Segment\nOrganic sales\nAcquisitions\nDivestitures\nTranslation\nTotal sales change\nSafety and Industrial\n1.0 %\n \n %\n %\n(4.2) %\n(3.2) %\nTransportation and Electronics\n1.2 \n \n(0.5)\n(4.6)\n(3.9)\nHealth Care\n3.2 \n \n(1.4)\n(3.8)\n(2.0)\nConsumer\n(0.9)\n \n(0.4)\n(2.6)\n(3.9)\nTotal Company\n1.2 \n \n(0.5)\n(3.9)\n(3.2)\nSales by geographic area:\nPercent change information compares the years ended December 31, 2022 and 2021 with the same prior year period, unless otherwise indicated. Additional discussion of\nbusiness segment results is provided in the Performance by Business Segment section.\nYear ended December 31, 2022\nAmericas\nAsia Pacific\nEurope, Middle East\n& Africa\nOther Unallocated\nWorldwide\nNet sales (millions)\n$\n18,400 \n$\n9,901 \n$\n5,928 \n$\n \n$\n34,229 \n% of worldwide sales\n53.8 %\n28.9 %\n17.3 %\n100.0 %\nComponents of net sales change:\nOrganic sales\n2.6 \n0.3 \n(0.6)\n1.2 \nDivestitures\n(0.6)\n(0.4)\n(0.6)\n(0.5)\nTranslation\n(0.3)\n(6.5)\n(9.8)\n(3.9)\nTotal sales change\n1.7 %\n(6.6) %\n(11.0) %\n(3.2) %\nYear ended December 31, 2021\nAmericas\nAsia Pacific\nEurope, Middle East\n& Africa\nOther Unallocated\nWorldwide\nNet sales (millions)\n$\n18,097 \n$\n10,600 \n$\n6,660 \n$\n(2)\n$\n35,355 \n% of worldwide sales\n51.2 %\n30.0 %\n18.8 %\n100.0 %\nComponents of net sales change:\nOrganic sales\n9.8 \n8.5 \n6.3 \n8.8 \nDivestitures\n(0.6)\n \n(1.1)\n(0.5)\nTranslation\n0.3 \n2.3 \n3.8 \n1.6 \nTotal sales change\n9.5 %\n10.8 %\n9.0 %\n9.9 %\n25\n"
966 }
967 ]
968 }
969 },
970 {
971 "key_content": {
972 "reference": [
973 "Operating income for 2022 was $1.3 billion compared to operating income of $3.6 billion for 2021. The decrease in operating income was primarily driven by\namortization of intangible assets associated with the Xilinx acquisition."
974 ],
975 "reference_idx": [
976 9833
977 ],
978 "question": "What drove operating margin change as of the FY22 for AMD? If operating margin is not a useful metric for a company like this, then please state that and explain why.",
979 "answer": "The decrease in AMD's operating income was primarily driven by amortization of intangible assets associated with the Xilinx acquisition"
980 },
981 "other_info": {
982 "financebench_id": "financebench_id_00917",
983 "company": "AMD",
984 "doc_name": "AMD_2022_10K",
985 "question_type": "domain-relevant",
986 "question_reasoning": "Logical reasoning (based on numerical reasoning) OR Numerical reasoning OR Logical reasoning",
987 "domain_question_num": "dg17",
988 "question": "What drove operating margin change as of the FY22 for AMD? If operating margin is not a useful metric for a company like this, then please state that and explain why.",
989 "answer": "The decrease in AMD's operating income was primarily driven by amortization of intangible assets associated with the Xilinx acquisition",
990 "justification": null,
991 "dataset_subset_label": "OPEN_SOURCE",
992 "evidence": [
993 {
994 "evidence_text": "Operating income for 2022 was $1.3 billion compared to operating income of $3.6 billion for 2021. The decrease in operating income was primarily driven by\namortization of intangible assets associated with the Xilinx acquisition.",
995 "doc_name": "AMD_2022_10K",
996 "evidence_page_num": 42,
997 "evidence_text_full_page": "Table of Contents\nITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS\nThe following discussion should be read in conjunction with the consolidated financial statements as of December 31, 2022 and December 25, 2021 and for\neach of the three years in the period ended December 31, 2022 and related notes, which are included in this Annual Report on Form 10-K as well as with the\nother sections of this Annual Report on Form 10-K, Part II, Item 8: Financial Statements and Supplementary Data.\nIntroduction\nIn this section, we will describe the general financial condition and the results of operations of Advanced Micro Devices, Inc. and its wholly-owned subsidiaries\n(collectively, us, our or AMD), including a discussion of our results of operations for 2022 compared to 2021, an analysis of changes in our financial\ncondition and a discussion of our off-balance sheet arrangements. Discussions of 2020 items and year-to-year comparisons between 2021 and 2020 that are\nnot included in this Form 10-K can be found in Managements Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 7 of\nour Annual Report on Form 10-K for the fiscal year ended December 25, 2021.\nOverview\n2022 was a transformative year for AMD as we took several major steps that scaled and reshaped our business. In February 2022, we completed our strategic\nacquisition of Xilinx, Inc. (Xilinx) which expanded our technology and product portfolio to include adaptable hardware platforms that enable hardware\nacceleration and rapid innovation across a variety of technologies and established AMD in multiple embedded markets where we have traditionally not had a\nsignificant presence. We now offer Field Programmable Gate Arrays (FPGAs), Adaptive SoCs, and Adaptive Compute Acceleration Platform (ACAP) products.\nWith the acquisition of Xilinx, we have access to a new set of markets and customers, further strengthening and diversifying our business model. In May 2022,\nwe expanded our data center solutions capabilities with the acquisition of Pensando Systems, Inc. (Pensando). We now offer high-performance data\nprocessing units (DPUs) and a software stack that complements our existing products. With the Xilinx and Pensando acquisitions, we are well positioned to\nprovide the industrys broadest set of leadership compute engines and accelerators to help enable best performance, security, flexibility and total cost of\nownership for leading-edge data centers.\nOur 2022 financial results reflect the strength of our diversified business model despite the challenging PC market conditions in the second half of 2022. Net\nrevenue for 2022 was $23.6 billion, an increase of 44% compared to 2021 net revenue of $16.4 billion. The increase in net revenue was driven by a 64%\nincrease in Data Center segment revenue primarily due to higher sales of our EPYC server processors, a 21% increase in Gaming segment revenue\nprimarily due to higher semi-custom product sales, and a significant increase in Embedded segment revenue from the prior year period driven by the inclusion\nof Xilinx embedded product sales. This growth was partially offset by a 10% decrease in Client segment revenue primarily due to lower processor shipments\ndriven by a weak PC market and significant inventory correction actions across the PC supply chain. Gross margin, as a percentage of net revenue for 2022,\nwas 45%, compared to 48% in 2021. The decrease in gross margin was primarily due to amortization of intangible assets associated with the Xilinx acquisition.\nOperating income for 2022 was $1.3 billion compared to operating income of $3.6 billion for 2021. The decrease in operating income was primarily driven by\namortization of intangible assets associated with the Xilinx acquisition. Net income for 2022 was $1.3 billion compared to $3.2 billion in the prior year. The\ndecrease in net income was primarily driven by lower operating income.\nCash, cash equivalents and short-term investments as of December 31, 2022 were $5.9 billion, compared to $3.6 billion at the end of 2021. Our aggregate\nprincipal amount of total debt as of December 31, 2022 was $2.5 billion, compared to $313 million as of December 25, 2021.\nWe took several actions in 2022 to strengthen our financial position. In June 2022, we issued $1.0 billion in aggregate principal amount of senior notes,\nconsisting of $500 million in aggregate principal amount of 3.924% Senior Notes due 2032 (3.924% Notes) and $500 million in aggregate principal amount of\n4.393% Senior Notes due 2052 (4.393% Notes). The 3.924% Notes will mature on June 1, 2032 and bear interest at a rate of 3.924% per annum, and the\n4.393% Notes will mature on June 1, 2052 and bear interest at a rate of 4.393% per annum. The 3.924% Notes and the 4.393% Notes are senior unsecured\nobligations.\n40\n"
998 }
999 ]
1000 }
1001 },
1002 {
1003 "key_content": {
1004 "reference": [
1005 "3M Company and Subsidiaries\nConsolidated Balance Sheet\n(Unaudited)\n(Dollars in millions, except per share amount)\nJune 30, 2023\nDecember 31, 2022\nAssets\nCurrent assets\nCash and cash equivalents\n$\n4,258 \n$\n3,655 \nMarketable securities current\n56 \n238 \nAccounts receivable net of allowances of $160 and $174\n4,947 \n4,532 \nInventories\nFinished goods\n2,526 \n2,497 \nWork in process\n1,527 \n1,606 \nRaw materials and supplies\n1,227 \n1,269 \nTotal inventories\n5,280 \n5,372 \nPrepaids\n674 \n435 \nOther current assets\n539 \n456 \nTotal current assets\n15,754 \n14,688 \nProperty, plant and equipment\n26,459 \n25,998 \nLess: Accumulated depreciation\n(17,248)\n(16,820)\nProperty, plant and equipment net\n9,211 \n9,178 \nOperating lease right of use assets\n812 \n829 \nGoodwill\n12,869 \n12,790 \nIntangible assets net\n4,470 \n4,699 \nOther assets\n5,764 \n4,271 \nTotal assets\n$\n48,880 \n$\n46,455 \nLiabilities\nCurrent liabilities\nShort-term borrowings and current portion of long-term debt\n$\n3,033 \n$\n1,938 \nAccounts payable\n3,231 \n3,183 \nAccrued payroll\n785 \n692 \nAccrued income taxes\n172 \n259 \nOperating lease liabilities current\n244 \n261 \nOther current liabilities\n3,471 \n3,190 \nTotal current liabilities\n10,936 \n9,523"
1006 ],
1007 "reference_idx": [
1008 1495
1009 ],
1010 "question": "Does 3M have a reasonably healthy liquidity profile based on its quick ratio for Q2 of FY2023? If the quick ratio is not relevant to measure liquidity, please state that and explain why.",
1011 "answer": "No. The quick ratio for 3M was 0.96 by Jun'23 close, which needs a bit of an improvement to touch the 1x mark"
1012 },
1013 "other_info": {
1014 "financebench_id": "financebench_id_00807",
1015 "company": "3M",
1016 "doc_name": "3M_2023Q2_10Q",
1017 "question_type": "domain-relevant",
1018 "question_reasoning": "Logical reasoning (based on numerical reasoning) OR Logical reasoning",
1019 "domain_question_num": "dg01",
1020 "question": "Does 3M have a reasonably healthy liquidity profile based on its quick ratio for Q2 of FY2023? If the quick ratio is not relevant to measure liquidity, please state that and explain why.",
1021 "answer": "No. The quick ratio for 3M was 0.96 by Jun'23 close, which needs a bit of an improvement to touch the 1x mark",
1022 "justification": "Quick Ratio= (Total current assets-Total inventories)/Total current liabilities\n(15,754-5,280)/10,936",
1023 "dataset_subset_label": "OPEN_SOURCE",
1024 "evidence": [
1025 {
1026 "evidence_text": "3M Company and Subsidiaries\nConsolidated Balance Sheet\n(Unaudited)\n(Dollars in millions, except per share amount)\nJune 30, 2023\nDecember 31, 2022\nAssets\nCurrent assets\nCash and cash equivalents\n$\n4,258 \n$\n3,655 \nMarketable securities current\n56 \n238 \nAccounts receivable net of allowances of $160 and $174\n4,947 \n4,532 \nInventories\nFinished goods\n2,526 \n2,497 \nWork in process\n1,527 \n1,606 \nRaw materials and supplies\n1,227 \n1,269 \nTotal inventories\n5,280 \n5,372 \nPrepaids\n674 \n435 \nOther current assets\n539 \n456 \nTotal current assets\n15,754 \n14,688 \nProperty, plant and equipment\n26,459 \n25,998 \nLess: Accumulated depreciation\n(17,248)\n(16,820)\nProperty, plant and equipment net\n9,211 \n9,178 \nOperating lease right of use assets\n812 \n829 \nGoodwill\n12,869 \n12,790 \nIntangible assets net\n4,470 \n4,699 \nOther assets\n5,764 \n4,271 \nTotal assets\n$\n48,880 \n$\n46,455 \nLiabilities\nCurrent liabilities\nShort-term borrowings and current portion of long-term debt\n$\n3,033 \n$\n1,938 \nAccounts payable\n3,231 \n3,183 \nAccrued payroll\n785 \n692 \nAccrued income taxes\n172 \n259 \nOperating lease liabilities current\n244 \n261 \nOther current liabilities\n3,471 \n3,190 \nTotal current liabilities\n10,936 \n9,523",
1027 "doc_name": "3M_2023Q2_10Q",
1028 "evidence_page_num": 4,
1029 "evidence_text_full_page": "Table of Contents\n3M Company and Subsidiaries\nConsolidated Balance Sheet\n(Unaudited)\n(Dollars in millions, except per share amount)\nJune 30, 2023\nDecember 31, 2022\nAssets\nCurrent assets\nCash and cash equivalents\n$\n4,258 \n$\n3,655 \nMarketable securities current\n56 \n238 \nAccounts receivable net of allowances of $160 and $174\n4,947 \n4,532 \nInventories\nFinished goods\n2,526 \n2,497 \nWork in process\n1,527 \n1,606 \nRaw materials and supplies\n1,227 \n1,269 \nTotal inventories\n5,280 \n5,372 \nPrepaids\n674 \n435 \nOther current assets\n539 \n456 \nTotal current assets\n15,754 \n14,688 \nProperty, plant and equipment\n26,459 \n25,998 \nLess: Accumulated depreciation\n(17,248)\n(16,820)\nProperty, plant and equipment net\n9,211 \n9,178 \nOperating lease right of use assets\n812 \n829 \nGoodwill\n12,869 \n12,790 \nIntangible assets net\n4,470 \n4,699 \nOther assets\n5,764 \n4,271 \nTotal assets\n$\n48,880 \n$\n46,455 \nLiabilities\nCurrent liabilities\nShort-term borrowings and current portion of long-term debt\n$\n3,033 \n$\n1,938 \nAccounts payable\n3,231 \n3,183 \nAccrued payroll\n785 \n692 \nAccrued income taxes\n172 \n259 \nOperating lease liabilities current\n244 \n261 \nOther current liabilities\n3,471 \n3,190 \nTotal current liabilities\n10,936 \n9,523 \nLong-term debt\n12,954 \n14,001 \nPension and postretirement benefits\n1,912 \n1,966 \nOperating lease liabilities\n570 \n580 \nOther liabilities\n14,651 \n5,615 \nTotal liabilities\n41,023 \n31,685 \nCommitments and contingencies (Note 14)\nEquity\n3M Company shareholders equity:\nCommon stock par value, $.01 par value; 944,033,056 shares issued\n9 \n9 \nShares outstanding - June 30, 2023: 551,992,430\nShares outstanding - December 31, 2022: 549,245,105\nAdditional paid-in capital\n6,858 \n6,691 \nRetained earnings\n40,290 \n47,950 \nTreasury stock, at cost:\n(32,926)\n(33,255)\nShares at June 30, 2023: 392,040,626\nShares at December 31, 2022: 394,787,951\nAccumulated other comprehensive income (loss)\n(6,433)\n(6,673)\nTotal 3M Company shareholders equity\n7,798 \n14,722 \nNoncontrolling interest\n59 \n48 \nTotal equity\n7,857 \n14,770 \nTotal liabilities and equity\n$\n48,880 \n$\n46,455 \nThe accompanying Notes to Consolidated Financial Statements are an integral part of this statement.\n5\n"
1030 }
1031 ]
1032 }
1033 },
1034 {
1035 "key_content": {
1036 "reference": [
1037 "RESULTS OF OPERATIONS\n \nThe following table presents selected highlights from our operations (in millions):\n \n \n \nYear ended December 31,\n \n% change\n \n \n \n2022\n \n2021\n \n22 vs. 21\n \n \n \n \n \n \nNet sales\n $\n14,189 $\n14,082 \n1%\n \n \n \n \n \nGross margin\n $\n4,506 $\n5,063 \n(11%)\n(gross margin %)\n \n32% \n36% \n \n \n \n \n \n \nSelling, general and administrative expenses\n $\n1,898 $\n1,827 \n4%\n(as a % of net sales)\n \n13% \n13% \n \n \n \n \n \n \nResearch, development and engineering expenses\n $\n1,047 $\n995 \n5%\n(as a % of net sales)\n \n7% \n7% \n \n \n \n \n \n \nTranslated earnings contract gain, net\n $\n351 $\n354 \n(1%)\n(as a % of net sales)\n \n2% \n3% \n \n \n \n \n \n \nIncome before income taxes\n $\n1,797 $\n2,426 \n(26%)\n(as a % of net sales)\n \n13% \n17% \n \n \n \n \n \n \nProvision for income taxes\n $\n(411) $\n(491) \n16%\nEffective tax rate\n \n23% \n20% \n \n \n \n \n \n \nNet income attributable to Corning Incorporated\n $\n1,316 $\n1,906 \n(31%)\n(as a % of net sales)\n \n9% \n14% \n \n \n \n \n \n \nComprehensive income attributable to Corning Incorporated\n $\n661 $\n1,471 \n(55%)"
1038 ],
1039 "reference_idx": [
1040 19941
1041 ],
1042 "question": "How much has the effective tax rate of Corning changed between FY2021 and FY2022?",
1043 "answer": "The effective tax rate of Corning has changed from 20% in FY2021 to 23% in FY 2022."
1044 },
1045 "other_info": {
1046 "financebench_id": "financebench_id_01346",
1047 "company": "Corning",
1048 "doc_name": "CORNING_2022_10K",
1049 "question_type": "domain-relevant",
1050 "question_reasoning": "Numerical reasoning",
1051 "domain_question_num": "dg23",
1052 "question": "How much has the effective tax rate of Corning changed between FY2021 and FY2022?",
1053 "answer": "The effective tax rate of Corning has changed from 20% in FY2021 to 23% in FY 2022.",
1054 "justification": null,
1055 "dataset_subset_label": "OPEN_SOURCE",
1056 "evidence": [
1057 {
1058 "evidence_text": "RESULTS OF OPERATIONS\n \nThe following table presents selected highlights from our operations (in millions):\n \n \n \nYear ended December 31,\n \n% change\n \n \n \n2022\n \n2021\n \n22 vs. 21\n \n \n \n \n \n \nNet sales\n $\n14,189 $\n14,082 \n1%\n \n \n \n \n \nGross margin\n $\n4,506 $\n5,063 \n(11%)\n(gross margin %)\n \n32% \n36% \n \n \n \n \n \n \nSelling, general and administrative expenses\n $\n1,898 $\n1,827 \n4%\n(as a % of net sales)\n \n13% \n13% \n \n \n \n \n \n \nResearch, development and engineering expenses\n $\n1,047 $\n995 \n5%\n(as a % of net sales)\n \n7% \n7% \n \n \n \n \n \n \nTranslated earnings contract gain, net\n $\n351 $\n354 \n(1%)\n(as a % of net sales)\n \n2% \n3% \n \n \n \n \n \n \nIncome before income taxes\n $\n1,797 $\n2,426 \n(26%)\n(as a % of net sales)\n \n13% \n17% \n \n \n \n \n \n \nProvision for income taxes\n $\n(411) $\n(491) \n16%\nEffective tax rate\n \n23% \n20% \n \n \n \n \n \n \nNet income attributable to Corning Incorporated\n $\n1,316 $\n1,906 \n(31%)\n(as a % of net sales)\n \n9% \n14% \n \n \n \n \n \n \nComprehensive income attributable to Corning Incorporated\n $\n661 $\n1,471 \n(55%)",
1059 "doc_name": "CORNING_2022_10K",
1060 "evidence_page_num": 23,
1061 "evidence_text_full_page": "Table of Contents\n \n2022 Results\n \nNet sales for the year ended December 31, 2022 were $14.2 billion, a net increase of $107 million, or 1%, when compared to the year ended December 31, 2021. This is\ndriven by 15% growth in segment net sales in Optical Communications of $674 million and 34% growth in Hemlock and Emerging Growth Businesses of $419 million,\nwhich helped offset a $394 million decrease in Display Technologies. In addition, movements in foreign exchange rates adversely impacted Cornings consolidated net\nsales by $616 million for the year ended December 31, 2022, when compared to the same period in 2021.\n \nFor the year ended December 31, 2022, we generated net income attributable to Corning Incorporated of $1,316 million, or $1.54 per diluted share, compared to net\nincome attributable to Corning Incorporated of $1,906 million, or $1.28 per diluted share, for the year ended December 31, 2021. When compared to 2021, the $590\nmillion decrease was primarily driven by a $238 million increase in severance, accelerated depreciation, asset write-offs and other related charges, a $50 million increase\nin litigation, regulatory and other legal matters and a $120 million adverse impact from foreign currency translation.\n \nDiluted earnings per share for the year ended December 31, 2022 increased by $0.26 per diluted share, or 20%, when compared to the year ended December 31, 2021,\nprimarily driven by the immediate repurchase and retirement of 35 million common shares which resulted in an $803 million one-time reduction to net income available\nto common shareholders in 2021, partially offset by the decrease in net income attributable to Corning Incorporated as described above. Refer to Note 16 (Shareholders\nEquity) and Note 17 (Earnings per Common Share) in the accompanying notes to the consolidated financial statements for additional information.\n \n2023 Corporate Outlook\n \nFor the first quarter 2023, we anticipate core sales in the range of $3.2 billion to $3.4 billion.\n \n \nRESULTS OF OPERATIONS\n \nThe following table presents selected highlights from our operations (in millions):\n \n \n \nYear ended December 31,\n \n% change\n \n \n \n2022\n \n2021\n \n22 vs. 21\n \n \n \n \n \n \nNet sales\n $\n14,189 $\n14,082 \n1%\n \n \n \n \n \nGross margin\n $\n4,506 $\n5,063 \n(11%)\n(gross margin %)\n \n32% \n36% \n \n \n \n \n \n \nSelling, general and administrative expenses\n $\n1,898 $\n1,827 \n4%\n(as a % of net sales)\n \n13% \n13% \n \n \n \n \n \n \nResearch, development and engineering expenses\n $\n1,047 $\n995 \n5%\n(as a % of net sales)\n \n7% \n7% \n \n \n \n \n \n \nTranslated earnings contract gain, net\n $\n351 $\n354 \n(1%)\n(as a % of net sales)\n \n2% \n3% \n \n \n \n \n \n \nIncome before income taxes\n $\n1,797 $\n2,426 \n(26%)\n(as a % of net sales)\n \n13% \n17% \n \n \n \n \n \n \nProvision for income taxes\n $\n(411) $\n(491) \n16%\nEffective tax rate\n \n23% \n20% \n \n \n \n \n \n \nNet income attributable to Corning Incorporated\n $\n1,316 $\n1,906 \n(31%)\n(as a % of net sales)\n \n9% \n14% \n \n \n \n \n \n \nComprehensive income attributable to Corning Incorporated\n $\n661 $\n1,471 \n(55%)\n \n24\n"
1062 }
1063 ]
1064 }
1065 },
1066 {
1067 "key_content": {
1068 "reference": [
1069 "Table of Contents\nAmerican Water Works Company, Inc. and Subsidiary Companies\nConsolidated Statements of Operations\n(In millions, except per share data)\n \nFor the Years Ended December 31,\n \n2021\n2020\n2019\nOperating revenues\n$\n3,930 \n$\n3,777 \n$\n3,610 \nOperating expenses:\n \n \n \nOperation and maintenance\n1,777 \n1,622 \n1,544 \nDepreciation and amortization\n636 \n604 \n582 \nGeneral taxes\n321 \n303 \n280 \nOther\n \n \n(10)\nTotal operating expenses, net\n2,734 \n2,529 \n2,396 \nOperating income\n1,196 \n1,248 \n1,214 \nOther income (expense):\n \n \n \nInterest expense\n(403)\n(397)\n(386)\nInterest income\n4 \n2 \n4 \nNon-operating benefit costs, net\n78 \n49 \n16 \nGain or (loss) on sale of businesses\n747 \n \n(44)\nOther, net\n18 \n22 \n29 \nTotal other income (expense)\n444 \n(324)\n(381)\nIncome before income taxes\n1,640 \n924 \n833 \nProvision for income taxes\n377 \n215 \n212 \nNet income attributable to common shareholders\n$\n1,263 \n$\n709 \n$\n621 \nBasic earnings per share: (a)\n\n\n\nNet income attributable to common shareholders\n$\n6.96 \n$\n3.91 \n$\n3.44 \nDiluted earnings per share: (a)\n\n\n\nNet income attributable to common shareholders\n$\n6.95 \n$\n3.91 \n$\n3.43 \nWeighted average common shares outstanding:\n \n \n \nBasic\n182 \n181 \n181 \nDiluted\n182 \n182 \n181 \n(a)\nAmounts may not calculate due to rounding.\nThe accompanying notes are an integral part of these Consolidated Financial Statements.\n84",
1070 "Table of Contents\nAmerican Water Works Company, Inc. and Subsidiary Companies\nConsolidated Statements of Cash Flows\n(In millions)\n \nFor the Years Ended December 31,\n \n2021\n2020\n2019\nCASH FLOWS FROM OPERATING ACTIVITIES\n \n \n \nNet income\n$\n1,263 \n$\n709 \n$\n621 \nAdjustments to reconcile to net cash flows provided by operating activities:\n \n \n \nDepreciation and amortization\n636 \n604 \n582 \nDeferred income taxes and amortization of investment tax credits\n230 \n207 \n208 \nProvision for losses on accounts receivable\n37 \n34 \n28 \n(Gain) or loss on sale of businesses\n(747)\n \n34 \nPension and non-pension postretirement benefits\n(41)\n(14)\n17 \nOther non-cash, net\n(23)\n(20)\n(41)\nChanges in assets and liabilities:\n \n \n \nReceivables and unbilled revenues\n(74)\n(97)\n(25)\nPension and non-pension postretirement benefit contributions\n(40)\n(39)\n(31)\nAccounts payable and accrued liabilities\n66 \n(2)\n66 \nOther assets and liabilities, net\n134 \n44 \n(76)\nNet cash provided by operating activities\n1,441 \n1,426 \n1,383 \nCASH FLOWS FROM INVESTING ACTIVITIES\n \n \n \nCapital expenditures\n(1,764)\n(1,822)\n(1,654)\nAcquisitions, net of cash acquired\n(135)\n(135)\n(235)\nProceeds from sale of assets, net of cash on hand\n472 \n2 \n48 \nRemoval costs from property, plant and equipment retirements, net\n(109)\n(106)\n(104)\nNet cash used in investing activities\n(1,536)\n(2,061)\n(1,945)\nCASH FLOWS FROM FINANCING ACTIVITIES\n \n \n \nProceeds from long-term debt\n1,118 \n1,334 \n1,530 \nRepayments of long-term debt\n(372)\n(342)\n(495)\n(Repayments of) proceeds from term loan\n(500)\n500 \n \nNet short-term borrowings with maturities less than three months\n(198)\n(5)\n(178)\n(Remittances) proceeds from issuances of employee stock plans and direct stock purchase plan, net of taxes paid of $18, $17 and $11 in\n2021, 2020 and 2019, respectively\n(1)\n9 \n15 \nAdvances and contributions in aid of construction, net of refunds of $25, $24 and $30 in 2021, 2020 and 2019, respectively\n62 \n28 \n26 \nDebt issuance costs and make-whole premium on early debt redemption\n(26)\n(15)\n(15)\nDividends paid\n(428)\n(389)\n(353)\nAnti-dilutive share repurchases\n \n \n(36)\nNet cash (used in) provided by financing activities\n(345)\n1,120 \n494 \nNet (decrease) increase in cash, cash equivalents and restricted funds\n(440)\n485 \n(68)\nCash, cash equivalents and restricted funds at beginning of period\n576 \n91 \n159 \nCash, cash equivalents and restricted funds at end of period\n$\n136 \n$\n576 \n$\n91 \nCash paid during the year for:\n \n \n \nInterest, net of capitalized amount\n$\n389 \n$\n382 \n$\n383 \nIncome taxes, net of refunds of $6, $2 and $4 in 2021, 2020 and 2019, respectively\n$\n1 \n$\n7 \n$\n12 \nNon-cash investing activity:\n \n \n \nCapital expenditures acquired on account but unpaid as of year end\n$\n292 \n$\n221 \n$\n235 \nSeller promissory note from the sale of the Homeowner Services Group\n$\n720 \n$\n \n$\n \nContingent cash payment from the sale of the Homeowner Services Group\n$\n75 \n$\n \n$\n \nThe accompanying notes are an integral part of these Consolidated Financial Statements.\n86"
1071 ],
1072 "reference_idx": [
1073 11610,
1074 11612
1075 ],
1076 "question": "Basing your judgments off of the cash flow statement and the income statement, what is American Water Works's FY2021 unadjusted operating income + depreciation and amortization from the cash flow statement (unadjusted EBITDA) in USD millions?",
1077 "answer": "$1832.00"
1078 },
1079 "other_info": {
1080 "financebench_id": "financebench_id_04254",
1081 "company": "American Water Works",
1082 "doc_name": "AMERICANWATERWORKS_2021_10K",
1083 "question_type": "metrics-generated",
1084 "question_reasoning": "Numerical reasoning",
1085 "domain_question_num": null,
1086 "question": "Basing your judgments off of the cash flow statement and the income statement, what is American Water Works's FY2021 unadjusted operating income + depreciation and amortization from the cash flow statement (unadjusted EBITDA) in USD millions?",
1087 "answer": "$1832.00",
1088 "justification": "The metric in question was calculated using other simpler metrics. The various simpler metrics (from the current and, if relevant, previous fiscal year(s)) used were:\n\nMetric 1: Depreciation and amortization. This metric was located in the 10K as a single line item named: Depreciation and amortization.\n\nMetric 2: Unadjusted operating income. This metric was located in the 10K as a single line item named: Operating income.",
1089 "dataset_subset_label": "OPEN_SOURCE",
1090 "evidence": [
1091 {
1092 "evidence_text": "Table of Contents\nAmerican Water Works Company, Inc. and Subsidiary Companies\nConsolidated Statements of Operations\n(In millions, except per share data)\n \nFor the Years Ended December 31,\n \n2021\n2020\n2019\nOperating revenues\n$\n3,930 \n$\n3,777 \n$\n3,610 \nOperating expenses:\n \n \n \nOperation and maintenance\n1,777 \n1,622 \n1,544 \nDepreciation and amortization\n636 \n604 \n582 \nGeneral taxes\n321 \n303 \n280 \nOther\n \n \n(10)\nTotal operating expenses, net\n2,734 \n2,529 \n2,396 \nOperating income\n1,196 \n1,248 \n1,214 \nOther income (expense):\n \n \n \nInterest expense\n(403)\n(397)\n(386)\nInterest income\n4 \n2 \n4 \nNon-operating benefit costs, net\n78 \n49 \n16 \nGain or (loss) on sale of businesses\n747 \n \n(44)\nOther, net\n18 \n22 \n29 \nTotal other income (expense)\n444 \n(324)\n(381)\nIncome before income taxes\n1,640 \n924 \n833 \nProvision for income taxes\n377 \n215 \n212 \nNet income attributable to common shareholders\n$\n1,263 \n$\n709 \n$\n621 \nBasic earnings per share: (a)\n\n\n\nNet income attributable to common shareholders\n$\n6.96 \n$\n3.91 \n$\n3.44 \nDiluted earnings per share: (a)\n\n\n\nNet income attributable to common shareholders\n$\n6.95 \n$\n3.91 \n$\n3.43 \nWeighted average common shares outstanding:\n \n \n \nBasic\n182 \n181 \n181 \nDiluted\n182 \n182 \n181 \n(a)\nAmounts may not calculate due to rounding.\nThe accompanying notes are an integral part of these Consolidated Financial Statements.\n84",
1093 "doc_name": "AMERICANWATERWORKS_2021_10K",
1094 "evidence_page_num": 85,
1095 "evidence_text_full_page": "Table of Contents\nAmerican Water Works Company, Inc. and Subsidiary Companies\nConsolidated Statements of Operations\n(In millions, except per share data)\n \nFor the Years Ended December 31,\n \n2021\n2020\n2019\nOperating revenues\n$\n3,930 \n$\n3,777 \n$\n3,610 \nOperating expenses:\n \n \n \nOperation and maintenance\n1,777 \n1,622 \n1,544 \nDepreciation and amortization\n636 \n604 \n582 \nGeneral taxes\n321 \n303 \n280 \nOther\n \n \n(10)\nTotal operating expenses, net\n2,734 \n2,529 \n2,396 \nOperating income\n1,196 \n1,248 \n1,214 \nOther income (expense):\n \n \n \nInterest expense\n(403)\n(397)\n(386)\nInterest income\n4 \n2 \n4 \nNon-operating benefit costs, net\n78 \n49 \n16 \nGain or (loss) on sale of businesses\n747 \n \n(44)\nOther, net\n18 \n22 \n29 \nTotal other income (expense)\n444 \n(324)\n(381)\nIncome before income taxes\n1,640 \n924 \n833 \nProvision for income taxes\n377 \n215 \n212 \nNet income attributable to common shareholders\n$\n1,263 \n$\n709 \n$\n621 \nBasic earnings per share: (a)\n\n\n\nNet income attributable to common shareholders\n$\n6.96 \n$\n3.91 \n$\n3.44 \nDiluted earnings per share: (a)\n\n\n\nNet income attributable to common shareholders\n$\n6.95 \n$\n3.91 \n$\n3.43 \nWeighted average common shares outstanding:\n \n \n \nBasic\n182 \n181 \n181 \nDiluted\n182 \n182 \n181 \n(a)\nAmounts may not calculate due to rounding.\nThe accompanying notes are an integral part of these Consolidated Financial Statements.\n84\n"
1096 },
1097 {
1098 "evidence_text": "Table of Contents\nAmerican Water Works Company, Inc. and Subsidiary Companies\nConsolidated Statements of Cash Flows\n(In millions)\n \nFor the Years Ended December 31,\n \n2021\n2020\n2019\nCASH FLOWS FROM OPERATING ACTIVITIES\n \n \n \nNet income\n$\n1,263 \n$\n709 \n$\n621 \nAdjustments to reconcile to net cash flows provided by operating activities:\n \n \n \nDepreciation and amortization\n636 \n604 \n582 \nDeferred income taxes and amortization of investment tax credits\n230 \n207 \n208 \nProvision for losses on accounts receivable\n37 \n34 \n28 \n(Gain) or loss on sale of businesses\n(747)\n \n34 \nPension and non-pension postretirement benefits\n(41)\n(14)\n17 \nOther non-cash, net\n(23)\n(20)\n(41)\nChanges in assets and liabilities:\n \n \n \nReceivables and unbilled revenues\n(74)\n(97)\n(25)\nPension and non-pension postretirement benefit contributions\n(40)\n(39)\n(31)\nAccounts payable and accrued liabilities\n66 \n(2)\n66 \nOther assets and liabilities, net\n134 \n44 \n(76)\nNet cash provided by operating activities\n1,441 \n1,426 \n1,383 \nCASH FLOWS FROM INVESTING ACTIVITIES\n \n \n \nCapital expenditures\n(1,764)\n(1,822)\n(1,654)\nAcquisitions, net of cash acquired\n(135)\n(135)\n(235)\nProceeds from sale of assets, net of cash on hand\n472 \n2 \n48 \nRemoval costs from property, plant and equipment retirements, net\n(109)\n(106)\n(104)\nNet cash used in investing activities\n(1,536)\n(2,061)\n(1,945)\nCASH FLOWS FROM FINANCING ACTIVITIES\n \n \n \nProceeds from long-term debt\n1,118 \n1,334 \n1,530 \nRepayments of long-term debt\n(372)\n(342)\n(495)\n(Repayments of) proceeds from term loan\n(500)\n500 \n \nNet short-term borrowings with maturities less than three months\n(198)\n(5)\n(178)\n(Remittances) proceeds from issuances of employee stock plans and direct stock purchase plan, net of taxes paid of $18, $17 and $11 in\n2021, 2020 and 2019, respectively\n(1)\n9 \n15 \nAdvances and contributions in aid of construction, net of refunds of $25, $24 and $30 in 2021, 2020 and 2019, respectively\n62 \n28 \n26 \nDebt issuance costs and make-whole premium on early debt redemption\n(26)\n(15)\n(15)\nDividends paid\n(428)\n(389)\n(353)\nAnti-dilutive share repurchases\n \n \n(36)\nNet cash (used in) provided by financing activities\n(345)\n1,120 \n494 \nNet (decrease) increase in cash, cash equivalents and restricted funds\n(440)\n485 \n(68)\nCash, cash equivalents and restricted funds at beginning of period\n576 \n91 \n159 \nCash, cash equivalents and restricted funds at end of period\n$\n136 \n$\n576 \n$\n91 \nCash paid during the year for:\n \n \n \nInterest, net of capitalized amount\n$\n389 \n$\n382 \n$\n383 \nIncome taxes, net of refunds of $6, $2 and $4 in 2021, 2020 and 2019, respectively\n$\n1 \n$\n7 \n$\n12 \nNon-cash investing activity:\n \n \n \nCapital expenditures acquired on account but unpaid as of year end\n$\n292 \n$\n221 \n$\n235 \nSeller promissory note from the sale of the Homeowner Services Group\n$\n720 \n$\n \n$\n \nContingent cash payment from the sale of the Homeowner Services Group\n$\n75 \n$\n \n$\n \nThe accompanying notes are an integral part of these Consolidated Financial Statements.\n86",
1099 "doc_name": "AMERICANWATERWORKS_2021_10K",
1100 "evidence_page_num": 87,
1101 "evidence_text_full_page": "Table of Contents\nAmerican Water Works Company, Inc. and Subsidiary Companies\nConsolidated Statements of Cash Flows\n(In millions)\n \nFor the Years Ended December 31,\n \n2021\n2020\n2019\nCASH FLOWS FROM OPERATING ACTIVITIES\n \n \n \nNet income\n$\n1,263 \n$\n709 \n$\n621 \nAdjustments to reconcile to net cash flows provided by operating activities:\n \n \n \nDepreciation and amortization\n636 \n604 \n582 \nDeferred income taxes and amortization of investment tax credits\n230 \n207 \n208 \nProvision for losses on accounts receivable\n37 \n34 \n28 \n(Gain) or loss on sale of businesses\n(747)\n \n34 \nPension and non-pension postretirement benefits\n(41)\n(14)\n17 \nOther non-cash, net\n(23)\n(20)\n(41)\nChanges in assets and liabilities:\n \n \n \nReceivables and unbilled revenues\n(74)\n(97)\n(25)\nPension and non-pension postretirement benefit contributions\n(40)\n(39)\n(31)\nAccounts payable and accrued liabilities\n66 \n(2)\n66 \nOther assets and liabilities, net\n134 \n44 \n(76)\nNet cash provided by operating activities\n1,441 \n1,426 \n1,383 \nCASH FLOWS FROM INVESTING ACTIVITIES\n \n \n \nCapital expenditures\n(1,764)\n(1,822)\n(1,654)\nAcquisitions, net of cash acquired\n(135)\n(135)\n(235)\nProceeds from sale of assets, net of cash on hand\n472 \n2 \n48 \nRemoval costs from property, plant and equipment retirements, net\n(109)\n(106)\n(104)\nNet cash used in investing activities\n(1,536)\n(2,061)\n(1,945)\nCASH FLOWS FROM FINANCING ACTIVITIES\n \n \n \nProceeds from long-term debt\n1,118 \n1,334 \n1,530 \nRepayments of long-term debt\n(372)\n(342)\n(495)\n(Repayments of) proceeds from term loan\n(500)\n500 \n \nNet short-term borrowings with maturities less than three months\n(198)\n(5)\n(178)\n(Remittances) proceeds from issuances of employee stock plans and direct stock purchase plan, net of taxes paid of $18, $17 and $11 in\n2021, 2020 and 2019, respectively\n(1)\n9 \n15 \nAdvances and contributions in aid of construction, net of refunds of $25, $24 and $30 in 2021, 2020 and 2019, respectively\n62 \n28 \n26 \nDebt issuance costs and make-whole premium on early debt redemption\n(26)\n(15)\n(15)\nDividends paid\n(428)\n(389)\n(353)\nAnti-dilutive share repurchases\n \n \n(36)\nNet cash (used in) provided by financing activities\n(345)\n1,120 \n494 \nNet (decrease) increase in cash, cash equivalents and restricted funds\n(440)\n485 \n(68)\nCash, cash equivalents and restricted funds at beginning of period\n576 \n91 \n159 \nCash, cash equivalents and restricted funds at end of period\n$\n136 \n$\n576 \n$\n91 \nCash paid during the year for:\n \n \n \nInterest, net of capitalized amount\n$\n389 \n$\n382 \n$\n383 \nIncome taxes, net of refunds of $6, $2 and $4 in 2021, 2020 and 2019, respectively\n$\n1 \n$\n7 \n$\n12 \nNon-cash investing activity:\n \n \n \nCapital expenditures acquired on account but unpaid as of year end\n$\n292 \n$\n221 \n$\n235 \nSeller promissory note from the sale of the Homeowner Services Group\n$\n720 \n$\n \n$\n \nContingent cash payment from the sale of the Homeowner Services Group\n$\n75 \n$\n \n$\n \nThe accompanying notes are an integral part of these Consolidated Financial Statements.\n86\n"
1102 }
1103 ]
1104 }
1105 },
1106 {
1107 "key_content": {
1108 "reference": [
1109 "Consolidated Statements of Earnings\n$ and shares in millions, except per share amounts\n \n \n \n \n \n \n \n \n \n \n \n \n \nFiscal Years Ended\nJanuary 28, 2023\n \nJanuary 29, 2022\n \nJanuary 30, 2021\nRevenue\n$\n 46,298 \n \n$\n 51,761 \n \n$\n 47,262 \nCost of sales\n \n 36,386 \n \n \n 40,121 \n \n \n 36,689 \nGross profit\n \n 9,912 \n \n \n 11,640 \n \n \n 10,573 \nSelling, general and administrative expenses\n \n 7,970 \n \n \n 8,635 \n \n \n 7,928 \nRestructuring charges\n \n 147 \n \n \n (34) \n \n \n 254 \nOperating income\n \n 1,795 \n \n \n 3,039 \n \n \n 2,391 \nOther income (expense):\n \n \n \n \n \n \n \n \n \n \n \nInvestment income and other\n \n 28 \n \n \n 10 \n \n \n 38 \nInterest expense\n \n (35) \n \n \n (25) \n \n \n (52) \nEarnings before income tax expense and equity in income of affiliates\n \n 1,788 \n \n \n 3,024 \n \n \n 2,377 \nIncome tax expense\n \n 370 \n \n \n 574 \n \n \n 579 \nEquity in income of affiliates\n \n 1 \n \n \n 4 \n \n \n - \nNet earnings\n$\n 1,419 \n \n$\n 2,454 \n \n$\n 1,798"
1110 ],
1111 "reference_idx": [
1112 13825
1113 ],
1114 "question": "Are Best Buy's gross margins historically consistent (not fluctuating more than roughly 2% each year)? If gross margins are not a relevant metric for a company like this, then please state that and explain why.",
1115 "answer": "Yes, the margins have been consistent, there has been a minor decline of 1.1% in gross margins between FY2022 and FY2023."
1116 },
1117 "other_info": {
1118 "financebench_id": "financebench_id_00685",
1119 "company": "Best Buy",
1120 "doc_name": "BESTBUY_2023_10K",
1121 "question_type": "domain-relevant",
1122 "question_reasoning": "Logical reasoning (based on numerical reasoning) OR Logical reasoning",
1123 "domain_question_num": "dg03",
1124 "question": "Are Best Buy's gross margins historically consistent (not fluctuating more than roughly 2% each year)? If gross margins are not a relevant metric for a company like this, then please state that and explain why.",
1125 "answer": "Yes, the margins have been consistent, there has been a minor decline of 1.1% in gross margins between FY2022 and FY2023.",
1126 "justification": "Gross Profit/Revenue\n9912/46298\n11640/51761",
1127 "dataset_subset_label": "OPEN_SOURCE",
1128 "evidence": [
1129 {
1130 "evidence_text": "Consolidated Statements of Earnings\n$ and shares in millions, except per share amounts\n \n \n \n \n \n \n \n \n \n \n \n \n \nFiscal Years Ended\nJanuary 28, 2023\n \nJanuary 29, 2022\n \nJanuary 30, 2021\nRevenue\n$\n 46,298 \n \n$\n 51,761 \n \n$\n 47,262 \nCost of sales\n \n 36,386 \n \n \n 40,121 \n \n \n 36,689 \nGross profit\n \n 9,912 \n \n \n 11,640 \n \n \n 10,573 \nSelling, general and administrative expenses\n \n 7,970 \n \n \n 8,635 \n \n \n 7,928 \nRestructuring charges\n \n 147 \n \n \n (34) \n \n \n 254 \nOperating income\n \n 1,795 \n \n \n 3,039 \n \n \n 2,391 \nOther income (expense):\n \n \n \n \n \n \n \n \n \n \n \nInvestment income and other\n \n 28 \n \n \n 10 \n \n \n 38 \nInterest expense\n \n (35) \n \n \n (25) \n \n \n (52) \nEarnings before income tax expense and equity in income of affiliates\n \n 1,788 \n \n \n 3,024 \n \n \n 2,377 \nIncome tax expense\n \n 370 \n \n \n 574 \n \n \n 579 \nEquity in income of affiliates\n \n 1 \n \n \n 4 \n \n \n - \nNet earnings\n$\n 1,419 \n \n$\n 2,454 \n \n$\n 1,798",
1131 "doc_name": "BESTBUY_2023_10K",
1132 "evidence_page_num": 39,
1133 "evidence_text_full_page": " \nConsolidated Statements of Earnings\n$ and shares in millions, except per share amounts\n \n \n \n \n \n \n \n \n \n \n \n \n \nFiscal Years Ended\nJanuary 28, 2023\n \nJanuary 29, 2022\n \nJanuary 30, 2021\nRevenue\n$\n 46,298 \n \n$\n 51,761 \n \n$\n 47,262 \nCost of sales\n \n 36,386 \n \n \n 40,121 \n \n \n 36,689 \nGross profit\n \n 9,912 \n \n \n 11,640 \n \n \n 10,573 \nSelling, general and administrative expenses\n \n 7,970 \n \n \n 8,635 \n \n \n 7,928 \nRestructuring charges\n \n 147 \n \n \n (34) \n \n \n 254 \nOperating income\n \n 1,795 \n \n \n 3,039 \n \n \n 2,391 \nOther income (expense):\n \n \n \n \n \n \n \n \n \n \n \nInvestment income and other\n \n 28 \n \n \n 10 \n \n \n 38 \nInterest expense\n \n (35) \n \n \n (25) \n \n \n (52) \nEarnings before income tax expense and equity in income of affiliates\n \n 1,788 \n \n \n 3,024 \n \n \n 2,377 \nIncome tax expense\n \n 370 \n \n \n 574 \n \n \n 579 \nEquity in income of affiliates\n \n 1 \n \n \n 4 \n \n \n - \nNet earnings\n$\n 1,419 \n \n$\n 2,454 \n \n$\n 1,798 \n \n \n \n \n \n \n \n \n \n \n \n \nBasic earnings per share\n$\n 6.31 \n \n$\n 9.94 \n \n$\n 6.93 \nDiluted earnings per share\n$\n 6.29 \n \n$\n 9.84 \n \n$\n 6.84 \n \n \n \n \n \n \n \n \n \n \n \n \nWeighted-average common shares outstanding:\n \n \n \n \n \n \n \n \n \n \n \nBasic\n \n 224.8 \n \n \n 246.8 \n \n \n 259.6 \nDiluted\n \n 225.7 \n \n \n 249.3 \n \n \n 263.0 \n \nSee Notes to Consolidated Financial Statements.\n \n \n40\n"
1134 }
1135 ]
1136 }
1137 },
1138 {
1139 "key_content": {
1140 "reference": [
1141 "We derive a significant portion of our revenues from a limited number of commercial airlines.",
1142 "We derive a substantial portion of our revenue from the U.S. government",
1143 "In 2022, 40% of our revenues were earned pursuant to U.S. government contracts"
1144 ],
1145 "reference_idx": [
1146 16781,
1147 16783,
1148 16787
1149 ],
1150 "question": "Who are the primary customers of Boeing as of FY2022?",
1151 "answer": "Boeing's primary customers as of FY2022 are a limited number of commercial airlines and the US government. The US government accounted for 40% of Boeing's total revenues in FY2022."
1152 },
1153 "other_info": {
1154 "financebench_id": "financebench_id_01290",
1155 "company": "Boeing",
1156 "doc_name": "BOEING_2022_10K",
1157 "question_type": "domain-relevant",
1158 "question_reasoning": "Information extraction OR Logical reasoning",
1159 "domain_question_num": "dg20",
1160 "question": "Who are the primary customers of Boeing as of FY2022?",
1161 "answer": "Boeing's primary customers as of FY2022 are a limited number of commercial airlines and the US government. The US government accounted for 40% of Boeing's total revenues in FY2022.",
1162 "justification": null,
1163 "dataset_subset_label": "OPEN_SOURCE",
1164 "evidence": [
1165 {
1166 "evidence_text": "We derive a significant portion of our revenues from a limited number of commercial airlines.",
1167 "doc_name": "BOEING_2022_10K",
1168 "evidence_page_num": 7,
1169 "evidence_text_full_page": "Table of Contents\nForward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to\nbe accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to\npredict. Many factors, including those set forth in the Risk Factors section below and other important factors disclosed in this report and from\ntime to time in our other filings with the SEC, could cause actual results to differ materially and adversely from these forward-looking statements.\nAny forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-\nlooking statement whether as a result of new information, future events or otherwise, except as required by law.\nItem 1A. Risk Factors\nAn investment in our common stock or debt securities involves risks and uncertainties and our actual results and future trends may differ\nmaterially from our past or projected future performance. We urge investors to consider carefully the risk factors described below in evaluating\nthe information contained in this report.\nRisks Related to Our Business and Operations\nWe depend heavily on commercial airlines, subjecting us to unique risks.\nMarket conditions have a significant impact on demand for our commercial aircraft and related services. The commercial aircraft market is\npredominantly driven by long-term trends in airline passenger and cargo traffic. The principal factors underlying long-term traffic growth are\nsustained economic growth and political stability both in developed and emerging markets. Demand for our commercial aircraft is further\ninfluenced by airline profitability, availability of aircraft financing, world trade policies, government-to-government relations, technological\nadvances, price and other competitive factors, fuel prices, terrorism, pandemics, epidemics and environmental regulations. Historically, the\nairline industry has been cyclical and very competitive and has experienced significant profit swings and constant challenges to be more cost\ncompetitive. Significant deterioration in the global economic environment, the airline industry generally or the financial stability of one or more of\nour major customers could result in fewer new orders for aircraft or services, or could cause customers to seek to postpone or cancel contractual\norders and/or payments to us, which could result in lower revenues, profitability and cash flows and a reduction in our contractual backlog. In\naddition, because our commercial aircraft backlog consists of aircraft scheduled for delivery over a period of several years, any of these\nmacroeconomic, industry or customer impacts could unexpectedly affect deliveries over a long period.\nWe enter into firm fixed-price aircraft sales contracts with indexed price escalation clauses, which could subject us to losses if we have cost\noverruns or if increases in our costs exceed the applicable escalation rate. Commercial aircraft sales contracts are often entered into years\nbefore the aircraft are delivered. In order to help account for economic fluctuations between the contract date and delivery date, aircraft pricing\ngenerally consists of a fixed amount as modified by price escalation formulas derived from labor, commodity and other price indices. Our\nrevenue estimates are based on current expectations with respect to these escalation formulas, but the actual escalation amounts are outside of\nour control. Escalation factors can fluctuate significantly from period to period. Changes in escalation amounts can significantly impact revenues\nand operating margins in our Commercial Airplanes business.\nWe derive a significant portion of our revenues from a limited number of commercial airlines. We can make no assurance that any customer will\nexercise purchase options, fulfill existing purchase commitments or purchase additional products or services from us. In addition, fleet decisions,\nairline consolidations or financial challenges involving any of our major commercial airline customers could significantly reduce our revenues and\nlimit our opportunity to generate profits from those customers.\n6\n"
1170 },
1171 {
1172 "evidence_text": "We derive a substantial portion of our revenue from the U.S. government",
1173 "doc_name": "BOEING_2022_10K",
1174 "evidence_page_num": 9,
1175 "evidence_text_full_page": "Table of Contents\ncommercial aircraft assembly facilities are delayed or create significant disruption to our production system, or if our suppliers cannot timely\ndeliver components to us at the cost and rates necessary to achieve our targets, we may be unable to meet delivery schedules and/or the\nfinancial performance of one or more of our programs may suffer.\nOperational challenges impacting the production system for one or more of our commercial aircraft programs could result in additional production\ndelays and/or failure to meet customer demand for new aircraft, either of which would negatively impact our revenues and operating margins.\nOur commercial aircraft production system is extremely complex. Operational issues, including delays or defects in supplier components, failure\nto meet internal performance plans, or delays or failures to achieve required regulatory approval, could result in additional out-of-sequence work\nand increased production costs, as well as delayed deliveries to customers, impacts to aircraft performance and/or increased warranty or fleet\nsupport costs. We and our suppliers are experiencing supply chain disruptions as a result of the lingering impacts of COVID-19, global supply\nchain constraints, and labor instability. We and our suppliers are also experiencing inflationary pressures. We continue to monitor the health and\nstability of the supply chain as we ramp up production. These factors have reduced overall productivity and adversely impacted our financial\nposition, results of operations and cash flows.\nIf our commercial aircraft fail to satisfy performance and reliability requirements and/or potentially required sustainability standards, we could\nface additional costs and/or lower revenues. Developing and manufacturing commercial aircraft that meet or exceed our performance and\nreliability standards and/or potentially required sustainability standards, as well as those of customers and regulatory agencies, can be costly\nand technologically challenging. These challenges are particularly significant with newer aircraft programs. Any failure of any Boeing aircraft to\nsatisfy performance or reliability requirements could result in disruption to our operations, higher costs and/or lower revenues.\nChanges in levels of U.S. government defense spending or acquisition priorities could negatively impact our financial position and\nresults of operations.\nWe derive a substantial portion of our revenue from the U.S. government, primarily from defense related programs with the United States\nDepartment of Defense (U.S. DoD). Levels of U.S. defense spending are very difficult to predict and may be impacted by numerous factors such\nas the evolving nature of the national security threat environment, U.S. national security strategy, U.S. foreign policy, the domestic political\nenvironment, macroeconomic conditions and the ability of the U.S. government to enact relevant legislation such as authorization and\nappropriations bills.\nThe timeliness of FY24 and future appropriations for government departments and agencies remains a recurrent risk. A lapse in appropriations\nfor government departments or agencies would result in a full or partial government shutdown, which could impact the Companys operations.\nAlternatively, Congress may fund government departments and agencies with one or more Continuing Resolutions; however, this would restrict\nthe execution of certain program activities and delay new programs or competitions. In addition, long-term uncertainty remains with respect to\noverall levels of defense spending in FY24 and beyond. U.S. government discretionary spending, including defense spending, is likely to\ncontinue to be subject to pressure.\nThere continues to be uncertainty with respect to future acquisition priorities and program-level appropriations for the U.S. DoD and other\ngovernment agencies (including NASA), including changes to national security and defense priorities, and tension between modernization\ninvestments, sustainment investments, and investments in new technologies or emergent capabilities. Future investment priority changes or\nbudget cuts, including changes associated with the authorizations and appropriations process, could result in reductions, cancellations, and/or\ndelays of existing contracts or programs, or future program opportunities. Any of these impacts could have a material effect on the results of the\nCompanys financial position, results of operations and/or cash flows.\n8\n"
1176 },
1177 {
1178 "evidence_text": "In 2022, 40% of our revenues were earned pursuant to U.S. government contracts",
1179 "doc_name": "BOEING_2022_10K",
1180 "evidence_page_num": 13,
1181 "evidence_text_full_page": "Table of Contents\nguarantees, partner performance and indemnifications. Consolidations of joint ventures could also impact our reported results of operations or\nfinancial position. While we believe that we have established appropriate and adequate procedures and processes to mitigate these risks, there\nis no assurance that these transactions will be successful. We also may make strategic divestitures from time to time. These transactions may\nresult in continued financial involvement in the divested businesses, such as through guarantees or other financial arrangements, following the\ntransaction. Nonperformance by those divested businesses could affect our future financial results through additional payment obligations,\nhigher costs or asset write-downs.\nRisks Related to Our Contracts\nWe conduct a significant portion of our business pursuant to U.S. government contracts, which are subject to unique risks.\nIn 2022, 40% of our revenues were earned pursuant to U.S. government contracts, which include FMS through the U.S. government. Business\nconducted pursuant to such contracts is subject to extensive procurement regulations and other unique risks.\nOur sales to the U.S. government are subject to extensive procurement regulations, and changes to those regulations could increase our costs.\nNew procurement regulations or climate or cyber-related contractual disclosures, or changes to existing requirements, could increase our\ncompliance costs or otherwise have a material impact on the operating margins of our BDS and BGS businesses. These requirements may also\nresult in withheld payments and/or reduced future business if we fail to comply. For example, proposals to raise domestic content thresholds for\nour U.S. government contracts could have negative impacts on our business. Compliance costs attributable to current and potential future\nprocurement regulations such as these could negatively impact our financial position, results of operations and/or cash flows.\nThe U.S. government may modify, curtail or terminate one or more of our contracts. The U.S. government contracting party may modify, curtail or\nterminate its contracts and subcontracts with us, without prior notice and either at its convenience or for default based on performance. In\naddition, funding pursuant to our U.S. government contracts may be reduced or withheld as part of the U.S. Congressional appropriations\nprocess due to fiscal constraints, changes in U.S. national security strategy and/or priorities or other reasons. Further uncertainty with respect to\nongoing programs could also result in the event that the U.S. government finances its operations through temporary funding measures such as\ncontinuing resolutions rather than full-year appropriations. Any loss or anticipated loss or reduction of expected funding and/or modification,\ncurtailment or termination of one or more large programs could have a material adverse effect on our financial position, results of operations\nand/or cash flows.\nWe are subject to U.S. government inquiries and investigations, including periodic audits of costs that we determine are reimbursable under U.S.\ngovernment contracts. U.S. government agencies, including the Defense Contract Audit Agency and the Defense Contract Management Agency,\nroutinely audit government contractors. These agencies review our performance under contracts, cost structure and compliance with applicable\nlaws, regulations and standards, as well as the adequacy of and our compliance with our internal control systems and policies. Any costs found\nto be misclassified or inaccurately allocated to a specific contract will be deemed non-reimbursable, and to the extent already reimbursed, must\nbe refunded. Any inadequacies in our systems and policies could result in withholds on billed receivables, penalties and reduced future business.\nFurthermore, if any audit, inquiry or investigation uncovers improper or illegal activities, we could be subject to civil and criminal penalties and\nadministrative sanctions, including termination of contracts, forfeiture of profits, suspension of payments, fines and suspension or debarment\nfrom doing business with the U.S. government. We also\n12\n"
1182 }
1183 ]
1184 }
1185 },
1186 {
1187 "key_content": {
1188 "reference": [
1189 "Dividends\nDuring 2022, 2021 and 2020, the quarterly cash dividend was $0.55, $0.50 and $0.50 per share, respectively."
1190 ],
1191 "reference_idx": [
1192 22626
1193 ],
1194 "question": "Has CVS Health paid dividends to common shareholders in Q2 of FY2022?",
1195 "answer": "Yes, CVS paid a $ 0.55 dividend per share every quarter in FY2022"
1196 },
1197 "other_info": {
1198 "financebench_id": "financebench_id_01244",
1199 "company": "CVS Health",
1200 "doc_name": "CVSHEALTH_2022_10K",