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What is the average Employee compensated absences? | December 31, 2019 December 31, 2018
Employee related liabilities 375 384
Employee compensated absences 138 125
Taxes other than income taxes 53 60
Advances 63 77
Payables to equity-method investments — 49
Derivative instruments 7 34
Provision for restructuring 10 22
Defined benefit plans – current portion 10 12
Defined contribution plans – accrued benefits 20 18
Other long-term benefits – current portion 7 6
Royalties 21 26
Current lease obligation 55 —
Deferred consideration for business combinations 10 —
Others 62 61
Total 831 874 |
What is the average Taxes other than income taxes? | December 31, 2019 December 31, 2018
Employee related liabilities 375 384
Employee compensated absences 138 125
Taxes other than income taxes 53 60
Advances 63 77
Payables to equity-method investments — 49
Derivative instruments 7 34
Provision for restructuring 10 22
Defined benefit plans – current portion 10 12
Defined contribution plans – accrued benefits 20 18
Other long-term benefits – current portion 7 6
Royalties 21 26
Current lease obligation 55 —
Deferred consideration for business combinations 10 —
Others 62 61
Total 831 874 |
What does the company consider in estimating the necessary level of allowance for doubtful accounts? | The Company maintains a general allowance for doubtful accounts based on historical experience, along with additional customer specific allowances. The Company regularly monitors credit risk exposures in consolidated receivables. In estimating the necessary level of our allowance for doubtful accounts, management considers the aging of accounts receivable, the creditworthiness of customers, economic conditions within the customer’s industry, and general economic conditions, among other factors. |
What was the balance at the end of period in 2019? | Years Ended December 31,
2019 2018 2017
Balance, beginning of period -$3,912 -$4,799 -$3,873
Provision increase -2,561 -1,505 -2,086
Amounts written off, net of recoveries 1,368 2,269 1,305
Foreign currency translation adjustments and other -44 123 -145
Balance, end of period -$5,149 -$3,912 -$4,799
The following reflects activity in the Company’s allowance for doubtful accounts receivable for the periods indicated (in thousands): |
What was the balance at the end of period in 2018? | Years Ended December 31,
2019 2018 2017
Balance, beginning of period -$3,912 -$4,799 -$3,873
Provision increase -2,561 -1,505 -2,086
Amounts written off, net of recoveries 1,368 2,269 1,305
Foreign currency translation adjustments and other -44 123 -145
Balance, end of period -$5,149 -$3,912 -$4,799
The following reflects activity in the Company’s allowance for doubtful accounts receivable for the periods indicated (in thousands): |
What was the change in balance at the end of period between 2018 and 2019? | Years Ended December 31,
2019 2018 2017
Balance, beginning of period -$3,912 -$4,799 -$3,873
Provision increase -2,561 -1,505 -2,086
Amounts written off, net of recoveries 1,368 2,269 1,305
Foreign currency translation adjustments and other -44 123 -145
Balance, end of period -$5,149 -$3,912 -$4,799
The following reflects activity in the Company’s allowance for doubtful accounts receivable for the periods indicated (in thousands): |
What was the change in Amounts written off, net of recoveries between 2018 and 2019? | Years Ended December 31,
2019 2018 2017
Balance, beginning of period -$3,912 -$4,799 -$3,873
Provision increase -2,561 -1,505 -2,086
Amounts written off, net of recoveries 1,368 2,269 1,305
Foreign currency translation adjustments and other -44 123 -145
Balance, end of period -$5,149 -$3,912 -$4,799
The following reflects activity in the Company’s allowance for doubtful accounts receivable for the periods indicated (in thousands): |
What was the percentage change in Amounts written off, net of recoveries between 2017 and 2018? | Years Ended December 31,
2019 2018 2017
Balance, beginning of period -$3,912 -$4,799 -$3,873
Provision increase -2,561 -1,505 -2,086
Amounts written off, net of recoveries 1,368 2,269 1,305
Foreign currency translation adjustments and other -44 123 -145
Balance, end of period -$5,149 -$3,912 -$4,799 |
Which years does the table provide information for revenues disaggregated by the major markets the company ser ves? | Twelve Months Ended December 31,
2019 2018
Transportation $299,005 $300,124
Industrial 78,369 86,968
Medical 41,901 40,663
Aerospace & Defense 32,569 23,323
Telecom & IT 17,155 19,405
Total $468,999 $470,483
The following table presents revenues disaggregated by the major markets we serve: |
What was the revenue from Industrial in 2019? | Twelve Months Ended December 31,
2019 2018
Transportation $299,005 $300,124
Industrial 78,369 86,968
Medical 41,901 40,663
Aerospace & Defense 32,569 23,323
Telecom & IT 17,155 19,405
Total $468,999 $470,483
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) |
What was the revenue from Telecom & IT in 2018? | Twelve Months Ended December 31,
2019 2018
Transportation $299,005 $300,124
Industrial 78,369 86,968
Medical 41,901 40,663
Aerospace & Defense 32,569 23,323
Telecom & IT 17,155 19,405
Total $468,999 $470,483
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) |
Which major markets had revenues that exceeded $100,000 thousand in 2019? | Twelve Months Ended December 31,
2019 2018
Transportation $299,005 $300,124
Industrial 78,369 86,968
Medical 41,901 40,663
Aerospace & Defense 32,569 23,323
Telecom & IT 17,155 19,405
Total $468,999 $470,483
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) |
What was the change in the revenues from Aerospace & Defense between 2018 and 2019? | Twelve Months Ended December 31,
2019 2018
Transportation $299,005 $300,124
Industrial 78,369 86,968
Medical 41,901 40,663
Aerospace & Defense 32,569 23,323
Telecom & IT 17,155 19,405
Total $468,999 $470,483
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share data) |
What was the percentage change in total revenue between 2018 and 2019? | Twelve Months Ended December 31,
2019 2018
Transportation $299,005 $300,124
Industrial 78,369 86,968
Medical 41,901 40,663
Aerospace & Defense 32,569 23,323
Telecom & IT 17,155 19,405
Total $468,999 $470,483 |
What does the company culture emphasize on? | We focus on providing a high level of customer service in order to attract customers and maintain their ongoing loyalty. Our culture emphasizes responsiveness to customer needs with a focus on flexibility, speed and accuracy throughout our manufacturing and delivery processes. Our customer oriented approach is especially evident in two types of services: customer design development services and manufacturing services. |
What is the major portion of the operating revenue? | We believe our success in attracting these end customers is a direct result of our commitment to high quality service and our intense focus on customer needs and performance. As an independent semiconductor foundry, most of our operating revenue is generated by our sales of wafers. The following table presented the percentages of our wafer sales by types of customers for the years ended December 31, 2017, 2018 and 2019. |
What is the approach taken by the company to grow its business? | We focus on providing a high level of customer service in order to attract customers and maintain their ongoing loyalty. Our culture emphasizes responsiveness to customer needs with a focus on flexibility, speed and accuracy throughout our manufacturing and delivery processes. Our customer oriented approach is especially evident in two types of services: customer design development services and manufacturing services. |
What is the increase / (decrease) in the Fabless design companies from 2018 to 2019? | Years Ended December 31,
Customer Type 2017 2018 2019
% % %
Fabless design companies 91.0 92.4 91.3
Integrated device manufacturers 9.0 7.6 8.7
Total 100.0 100.0 100.0 |
What is the average of Integrated device manufacturers? | Years Ended December 31,
Customer Type 2017 2018 2019
% % %
Fabless design companies 91.0 92.4 91.3
Integrated device manufacturers 9.0 7.6 8.7
Total 100.0 100.0 100.0 |
What is the increase / (decrease) in the Integrated device manufacturers from 2017 to 2018? | Years Ended December 31,
Customer Type 2017 2018 2019
% % %
Fabless design companies 91.0 92.4 91.3
Integrated device manufacturers 9.0 7.6 8.7
Total 100.0 100.0 100.0 |
What was the exchange rate in 2019? | (1) Fiscal 2019 average foreign exchange rate used for translation was 1.3255 USD/CDN. |
What was the exchange rate in 2018? | (3) Fiscal 2019 actuals are translated at the average foreign exchange rate of fiscal 2018 which was 1.2773 USD/CDN. |
What was the increase in 2019 operating expenses? | Years ended August 31, 2019 (1) 2018 (2) Change Change in constant currency (3) Foreign exchange impact (3)
(in thousands of dollars, except percentages) $ $ % % $
Canadian broadband services 606,286 618,886 (2.0) (2.2) 1,102
American broadband services 571,208 478,172 19.5 15.2 20,522
Inter-segment eliminations and other 26,486 24,567 7.8 7.8 12
1,203,980 1,121,625 7.3 5.4 21,636
Fiscal 2019 operating expenses increased by 7.3% (5.4% in constant currency) mainly from: |
What was the increase / (decrease) in Canadian broadband services from 2018 to 2019? | Years ended August 31, 2019 (1) 2018 (2) Change Change in constant currency (3) Foreign exchange impact (3)
(in thousands of dollars, except percentages) $ $ % % $
Canadian broadband services 606,286 618,886 (2.0) (2.2) 1,102
American broadband services 571,208 478,172 19.5 15.2 20,522
Inter-segment eliminations and other 26,486 24,567 7.8 7.8 12
1,203,980 1,121,625 7.3 5.4 21,636 |
What was the average American broadband services between 2018 and 2019? | Years ended August 31, 2019 (1) 2018 (2) Change Change in constant currency (3) Foreign exchange impact (3)
(in thousands of dollars, except percentages) $ $ % % $
Canadian broadband services 606,286 618,886 (2.0) (2.2) 1,102
American broadband services 571,208 478,172 19.5 15.2 20,522
Inter-segment eliminations and other 26,486 24,567 7.8 7.8 12
1,203,980 1,121,625 7.3 5.4 21,636 |
What was the increase / (decrease) in the Inter-segment eliminations and other from 2018 to 2019? | Years ended August 31, 2019 (1) 2018 (2) Change Change in constant currency (3) Foreign exchange impact (3)
(in thousands of dollars, except percentages) $ $ % % $
Canadian broadband services 606,286 618,886 (2.0) (2.2) 1,102
American broadband services 571,208 478,172 19.5 15.2 20,522
Inter-segment eliminations and other 26,486 24,567 7.8 7.8 12
1,203,980 1,121,625 7.3 5.4 21,636 |
What was the cost of sales in 2019? | Years Ended December 31,
2019 2018
Sales $ — $ —
Cost of sales (901) (88)
Total operating expense 1,022 96
Operating income (loss) from discontinued operations (121) (8)
Other income (expense) 10,895 (24)
Income (loss) from discontinued operations before income taxes 10,774 (32)
Provision (benefit) for income taxes 2,294 6
Income (loss) from discontinued operations, net of income taxes $8,480 $(38)
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts) |
What was the Total operating expense in 2018? | Years Ended December 31,
2019 2018
Sales $ — $ —
Cost of sales (901) (88)
Total operating expense 1,022 96
Operating income (loss) from discontinued operations (121) (8)
Other income (expense) 10,895 (24)
Income (loss) from discontinued operations before income taxes 10,774 (32)
Provision (benefit) for income taxes 2,294 6
Income (loss) from discontinued operations, net of income taxes $8,480 $(38)
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts) |
What was the Provision (benefit) for income taxes in 2018? | Years Ended December 31,
2019 2018
Sales $ — $ —
Cost of sales (901) (88)
Total operating expense 1,022 96
Operating income (loss) from discontinued operations (121) (8)
Other income (expense) 10,895 (24)
Income (loss) from discontinued operations before income taxes 10,774 (32)
Provision (benefit) for income taxes 2,294 6
Income (loss) from discontinued operations, net of income taxes $8,480 $(38)
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts) |
What was the change in Provision (benefit) for income taxes between 2018 and 2019? | Years Ended December 31,
2019 2018
Sales $ — $ —
Cost of sales (901) (88)
Total operating expense 1,022 96
Operating income (loss) from discontinued operations (121) (8)
Other income (expense) 10,895 (24)
Income (loss) from discontinued operations before income taxes 10,774 (32)
Provision (benefit) for income taxes 2,294 6
Income (loss) from discontinued operations, net of income taxes $8,480 $(38)
ADVANCED ENERGY INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (in thousands, except per share amounts) |
What was the percentage change in Cost of sales between 2018 and 2019? | Years Ended December 31,
2019 2018
Sales $ — $ —
Cost of sales (901) (88)
Total operating expense 1,022 96
Operating income (loss) from discontinued operations (121) (8)
Other income (expense) 10,895 (24)
Income (loss) from discontinued operations before income taxes 10,774 (32)
Provision (benefit) for income taxes 2,294 6
Income (loss) from discontinued operations, net of income taxes $8,480 $(38) |
What was the percentage change in Income (loss) from discontinued operations, net of income taxes between 2018 and 2019? | Years Ended December 31,
2019 2018
Sales $ — $ —
Cost of sales (901) (88)
Total operating expense 1,022 96
Operating income (loss) from discontinued operations (121) (8)
Other income (expense) 10,895 (24)
Income (loss) from discontinued operations before income taxes 10,774 (32)
Provision (benefit) for income taxes 2,294 6
Income (loss) from discontinued operations, net of income taxes $8,480 $(38) |
What are Original Equipment Manufacturers? | Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support, while Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world. |
What are Distribution customers? | Original Equipment Manufacturers (“OEM”) are the end-customers to which we provide direct marketing application engineering support, while Distribution customers refers to the distributors and representatives that we engage to distribute our products around the world. |
How much did the Distribution accounted for in the fourth quarter of total revenues? | By market channel, our fourth quarter revenues in Distribution amounted to 28% of our total revenues, flat compared to the previous quarter and decreasing on a year-over-year basis. |
What is the average net revenues from OEM for the period December 31, 2019 and 2018? | Three Months Ended
December 31, 2019 September 29, 2019 December 31, 2018
(Unaudited, in %)
OEM 72% 72% 69%
Distribution 28 28 31
Total 100% 100% 100% |
What is the average net revenues from Distribution for the period December 31, 2019 and 2018? | Three Months Ended
December 31, 2019 September 29, 2019 December 31, 2018
(Unaudited, in %)
OEM 72% 72% 69%
Distribution 28 28 31
Total 100% 100% 100% |
What is the increase/ (decrease) in OEM from the period December 31, 2018 to 2019? | Three Months Ended
December 31, 2019 September 29, 2019 December 31, 2018
(Unaudited, in %)
OEM 72% 72% 69%
Distribution 28 28 31
Total 100% 100% 100% |
How much is the 2019 trade receivables included within non-current assets? | 2019 2018
€m €m
Included within non-current assets:
Trade receivables 197 435
Trade receivables held at fair value through other comprehensive income 179 –
Contract assets1 531 350
Contract-related costs 375 –
Amounts owed by associates and joint ventures 1 1
Other receivables 77 194
Prepayments 371 597
Derivative financial instruments2 3,439 2,449
5,170 4,026
Included within current assets:
Trade receivables 4,088 4,967
Trade receivables held at fair value through other comprehensive income 613 –
Contract assets1 3,671 2,257
Contract-related costs 1,132 –
Amounts owed by associates and joint ventures 388 524
Other receivables 876 895
Prepayments 1,227 1,152
Derivative financial instruments2 195 180
12,190 9,975 |
How much is the 2018 trade receivables included within non-current assets? | 2019 2018
€m €m
Included within non-current assets:
Trade receivables 197 435
Trade receivables held at fair value through other comprehensive income 179 –
Contract assets1 531 350
Contract-related costs 375 –
Amounts owed by associates and joint ventures 1 1
Other receivables 77 194
Prepayments 371 597
Derivative financial instruments2 3,439 2,449
5,170 4,026
Included within current assets:
Trade receivables 4,088 4,967
Trade receivables held at fair value through other comprehensive income 613 –
Contract assets1 3,671 2,257
Contract-related costs 1,132 –
Amounts owed by associates and joint ventures 388 524
Other receivables 876 895
Prepayments 1,227 1,152
Derivative financial instruments2 195 180
12,190 9,975 |
How much is the 2019 contract assets included within non-current assets? | 2019 2018
€m €m
Included within non-current assets:
Trade receivables 197 435
Trade receivables held at fair value through other comprehensive income 179 –
Contract assets1 531 350
Contract-related costs 375 –
Amounts owed by associates and joint ventures 1 1
Other receivables 77 194
Prepayments 371 597
Derivative financial instruments2 3,439 2,449
5,170 4,026
Included within current assets:
Trade receivables 4,088 4,967
Trade receivables held at fair value through other comprehensive income 613 –
Contract assets1 3,671 2,257
Contract-related costs 1,132 –
Amounts owed by associates and joint ventures 388 524
Other receivables 876 895
Prepayments 1,227 1,152
Derivative financial instruments2 195 180
12,190 9,975 |
What is the average trade receivables included within non-current assets? | 2019 2018
€m €m
Included within non-current assets:
Trade receivables 197 435
Trade receivables held at fair value through other comprehensive income 179 –
Contract assets1 531 350
Contract-related costs 375 –
Amounts owed by associates and joint ventures 1 1
Other receivables 77 194
Prepayments 371 597
Derivative financial instruments2 3,439 2,449
5,170 4,026
Included within current assets:
Trade receivables 4,088 4,967
Trade receivables held at fair value through other comprehensive income 613 –
Contract assets1 3,671 2,257
Contract-related costs 1,132 –
Amounts owed by associates and joint ventures 388 524
Other receivables 876 895
Prepayments 1,227 1,152
Derivative financial instruments2 195 180
12,190 9,975 |
What is the average prepayments included in non-current assets? | 2019 2018
€m €m
Included within non-current assets:
Trade receivables 197 435
Trade receivables held at fair value through other comprehensive income 179 –
Contract assets1 531 350
Contract-related costs 375 –
Amounts owed by associates and joint ventures 1 1
Other receivables 77 194
Prepayments 371 597
Derivative financial instruments2 3,439 2,449
5,170 4,026
Included within current assets:
Trade receivables 4,088 4,967
Trade receivables held at fair value through other comprehensive income 613 –
Contract assets1 3,671 2,257
Contract-related costs 1,132 –
Amounts owed by associates and joint ventures 388 524
Other receivables 876 895
Prepayments 1,227 1,152
Derivative financial instruments2 195 180
12,190 9,975 |
Which year has higher trade receivables included within non-current assets? | 2019 2018
€m €m
Included within non-current assets:
Trade receivables 197 435
Trade receivables held at fair value through other comprehensive income 179 –
Contract assets1 531 350
Contract-related costs 375 –
Amounts owed by associates and joint ventures 1 1
Other receivables 77 194
Prepayments 371 597
Derivative financial instruments2 3,439 2,449
5,170 4,026
Included within current assets:
Trade receivables 4,088 4,967
Trade receivables held at fair value through other comprehensive income 613 –
Contract assets1 3,671 2,257
Contract-related costs 1,132 –
Amounts owed by associates and joint ventures 388 524
Other receivables 876 895
Prepayments 1,227 1,152
Derivative financial instruments2 195 180
12,190 9,975 |
How much is the VAS segment revenue? | VAS FinTech and Business Services Online Advertising Others Total
RMB’Million RMB’Million RMB’Million RMB’Million RMB’Million
Segment revenues 199,991 101,355 68,377 7,566 377,289
Gross profit 105,905 27,524 33,517 587 167,533
Depreciation 3,461 6,669 2,065 108 12,303
Amortisation 14,710 – 9,977 3,115 27,802 |
How much is the VAS gross profit? | VAS FinTech and Business Services Online Advertising Others Total
RMB’Million RMB’Million RMB’Million RMB’Million RMB’Million
Segment revenues 199,991 101,355 68,377 7,566 377,289
Gross profit 105,905 27,524 33,517 587 167,533
Depreciation 3,461 6,669 2,065 108 12,303
Amortisation 14,710 – 9,977 3,115 27,802 |
How much is the VAS depreciation? | VAS FinTech and Business Services Online Advertising Others Total
RMB’Million RMB’Million RMB’Million RMB’Million RMB’Million
Segment revenues 199,991 101,355 68,377 7,566 377,289
Gross profit 105,905 27,524 33,517 587 167,533
Depreciation 3,461 6,669 2,065 108 12,303
Amortisation 14,710 – 9,977 3,115 27,802 |
How many percent of total segment revenues is the VAS segment revenue? | VAS FinTech and Business Services Online Advertising Others Total
RMB’Million RMB’Million RMB’Million RMB’Million RMB’Million
Segment revenues 199,991 101,355 68,377 7,566 377,289
Gross profit 105,905 27,524 33,517 587 167,533
Depreciation 3,461 6,669 2,065 108 12,303
Amortisation 14,710 – 9,977 3,115 27,802 |
How many percent of total depreciation was the VAS depreciation? | VAS FinTech and Business Services Online Advertising Others Total
RMB’Million RMB’Million RMB’Million RMB’Million RMB’Million
Segment revenues 199,991 101,355 68,377 7,566 377,289
Gross profit 105,905 27,524 33,517 587 167,533
Depreciation 3,461 6,669 2,065 108 12,303
Amortisation 14,710 – 9,977 3,115 27,802 |
How many percent of total amortisation was the VAS amortisation? | VAS FinTech and Business Services Online Advertising Others Total
RMB’Million RMB’Million RMB’Million RMB’Million RMB’Million
Segment revenues 199,991 101,355 68,377 7,566 377,289
Gross profit 105,905 27,524 33,517 587 167,533
Depreciation 3,461 6,669 2,065 108 12,303
Amortisation 14,710 – 9,977 3,115 27,802 |
What does the company's equity investments consist of? | Our equity investments consist of equity investments with readily determinable fair value, investments without readily determinable fair value, equity investments accounted for using the fair value option, and equity method investments. |
What is the share of earnings from equity investments accounted for under the equity method reflected as? | Our share of earnings (losses) from equity investments accounted for under the equity method is reflected as ‘‘Equity in earnings (losses) of unconsolidated investees’’ in our consolidated statements of operations. Mark-to-market gains and losses on equity investments with readily determinable fair value are reflected as ‘‘other, net’’ under other income (expense), net in our consolidated statements of operations. The carrying value of our equity investments, classified as ‘‘other long-term assets’’ on our consolidated balance sheets, are as follows: |
In which years is equity investments recorded for? | As of
(In thousands) December 29, 2019 December 30, 2018
Equity investments with readily determinable fair value:
Enphase Energy, Inc $173,908 $36,225
Total equity investments with readily determinable fair value 173,908 36,225
Equity investments without readily determinable fair value:
Project entities 2,677 2,951
Other equity investments without readily determinable fair value 5,859 5,859
Total equity investments without readily determinable fair value 8,536 8,810
Equity investments with fair value option:
SunStrong Capital Holdings, LLC 8,000 8,831
SunStrong Partners, LLC 9,500 —
8point3 Solar Investco 3 Holdings, LLC — —
Total equity investment with fair value option 17,500 8,831
Equity method investments
Huansheng Corporation 26,533 32,784
Project entities 125 2,044
Total equity method investments 26,658 34,828
Total equity investments $226,602 $88,694
Note 10. EQUITY INVESTMENTS |
Which year is the total equity investment with fair value option higher? | As of
(In thousands) December 29, 2019 December 30, 2018
Equity investments with readily determinable fair value:
Enphase Energy, Inc $173,908 $36,225
Total equity investments with readily determinable fair value 173,908 36,225
Equity investments without readily determinable fair value:
Project entities 2,677 2,951
Other equity investments without readily determinable fair value 5,859 5,859
Total equity investments without readily determinable fair value 8,536 8,810
Equity investments with fair value option:
SunStrong Capital Holdings, LLC 8,000 8,831
SunStrong Partners, LLC 9,500 —
8point3 Solar Investco 3 Holdings, LLC — —
Total equity investment with fair value option 17,500 8,831
Equity method investments
Huansheng Corporation 26,533 32,784
Project entities 125 2,044
Total equity method investments 26,658 34,828
Total equity investments $226,602 $88,694 |
What was the change in total equity method investments from 2018 to 2019? | As of
(In thousands) December 29, 2019 December 30, 2018
Equity investments with readily determinable fair value:
Enphase Energy, Inc $173,908 $36,225
Total equity investments with readily determinable fair value 173,908 36,225
Equity investments without readily determinable fair value:
Project entities 2,677 2,951
Other equity investments without readily determinable fair value 5,859 5,859
Total equity investments without readily determinable fair value 8,536 8,810
Equity investments with fair value option:
SunStrong Capital Holdings, LLC 8,000 8,831
SunStrong Partners, LLC 9,500 —
8point3 Solar Investco 3 Holdings, LLC — —
Total equity investment with fair value option 17,500 8,831
Equity method investments
Huansheng Corporation 26,533 32,784
Project entities 125 2,044
Total equity method investments 26,658 34,828
Total equity investments $226,602 $88,694 |
What was the percentage change in total equity investments from 2018 to 2019? | As of
(In thousands) December 29, 2019 December 30, 2018
Equity investments with readily determinable fair value:
Enphase Energy, Inc $173,908 $36,225
Total equity investments with readily determinable fair value 173,908 36,225
Equity investments without readily determinable fair value:
Project entities 2,677 2,951
Other equity investments without readily determinable fair value 5,859 5,859
Total equity investments without readily determinable fair value 8,536 8,810
Equity investments with fair value option:
SunStrong Capital Holdings, LLC 8,000 8,831
SunStrong Partners, LLC 9,500 —
8point3 Solar Investco 3 Holdings, LLC — —
Total equity investment with fair value option 17,500 8,831
Equity method investments
Huansheng Corporation 26,533 32,784
Project entities 125 2,044
Total equity method investments 26,658 34,828
Total equity investments $226,602 $88,694 |
What was the inventory reserve in 2019? | Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on estimated reserve percentages, which consider historical usage, known trends, inventory age and market conditions. As of December 31, 2019 and 2018, our inventory reserve was $34.1 million and $30.0 million, respectively. |
What was the Raw material inventory in 2019? | (In thousands) 2019 2018
Raw materials $36,987 $45,333
Work in process 1,085 1,638
Finished goods 60,233 52,877
Total Inventory, net $98,305 $99,848 |
What was the work in process inventory in 2019? | (In thousands) 2019 2018
Raw materials $36,987 $45,333
Work in process 1,085 1,638
Finished goods 60,233 52,877
Total Inventory, net $98,305 $99,848 |
What was the change in raw materials between 2018 and 2019? | (In thousands) 2019 2018
Raw materials $36,987 $45,333
Work in process 1,085 1,638
Finished goods 60,233 52,877
Total Inventory, net $98,305 $99,848 |
What was the change in finished goods between 2018 and 2019? | (In thousands) 2019 2018
Raw materials $36,987 $45,333
Work in process 1,085 1,638
Finished goods 60,233 52,877
Total Inventory, net $98,305 $99,848 |
What was the percentage change in net total inventory between 2018 and 2019? | (In thousands) 2019 2018
Raw materials $36,987 $45,333
Work in process 1,085 1,638
Finished goods 60,233 52,877
Total Inventory, net $98,305 $99,848 |
How does the company utilizes certain of its financing receivables? | The company utilizes certain of its financing receivables as collateral for nonrecourse borrowings. Financing receivables pledged as collateral for borrowings were $1,062 million and $710 million at December 31, 2019 and 2018, respectively. These borrowings are included in note P, “Borrowings.” |
What amount of Financing receivables pledged as collateral for borrowings in December 2018 and 2019? | The company utilizes certain of its financing receivables as collateral for nonrecourse borrowings. Financing receivables pledged as collateral for borrowings were $1,062 million and $710 million at December 31, 2019 and 2018, respectively. These borrowings are included in note P, “Borrowings.” |
Did the company have any financing receivables held for sale as of December 2019 and 2018. | The company did not have any financing receivables held for sale as of December 31, 2019 and 2018. |
What is the average Unearned income? | ($ in millions)
At December 31, 2018: Investment in Sales-Type and Direct Financing Leases Commercial Financing Receivables Client Loan and Installment Payment Receivables/ (Loans) Total
Financing receivables, gross $6,846 $11,889 $13,614 $32,348
Unearned income (526) (37) (632) (1,195)
Recorded investment $6,320 $11,852 $12,981 $31,153
Allowance for credit losses (99) (13) (179) (292)
Unguaranteed residual value 589 — — 589
Guaranteed residual value 85 — — 85
Total financing receivables, net $6,895 $11,838 $12,802 $31,536
Current portion $2,834 $11,838 $ 7,716 $22,388
Noncurrent portion $4,061 $ — $ 5,086 $ 9,148 |
What is the average Recorded investment? | ($ in millions)
At December 31, 2018: Investment in Sales-Type and Direct Financing Leases Commercial Financing Receivables Client Loan and Installment Payment Receivables/ (Loans) Total
Financing receivables, gross $6,846 $11,889 $13,614 $32,348
Unearned income (526) (37) (632) (1,195)
Recorded investment $6,320 $11,852 $12,981 $31,153
Allowance for credit losses (99) (13) (179) (292)
Unguaranteed residual value 589 — — 589
Guaranteed residual value 85 — — 85
Total financing receivables, net $6,895 $11,838 $12,802 $31,536
Current portion $2,834 $11,838 $ 7,716 $22,388
Noncurrent portion $4,061 $ — $ 5,086 $ 9,148 |
How much is the difference between Unguaranteed and Guaranteed residual value of Investment in Sales-Type and Direct Financing Leases? | ($ in millions)
At December 31, 2018: Investment in Sales-Type and Direct Financing Leases Commercial Financing Receivables Client Loan and Installment Payment Receivables/ (Loans) Total
Financing receivables, gross $6,846 $11,889 $13,614 $32,348
Unearned income (526) (37) (632) (1,195)
Recorded investment $6,320 $11,852 $12,981 $31,153
Allowance for credit losses (99) (13) (179) (292)
Unguaranteed residual value 589 — — 589
Guaranteed residual value 85 — — 85
Total financing receivables, net $6,895 $11,838 $12,802 $31,536
Current portion $2,834 $11,838 $ 7,716 $22,388
Noncurrent portion $4,061 $ — $ 5,086 $ 9,148 |
What is the amount of cash and cash equivalents had by the company in 2018 and 2019 respectively? | December 31,
2019 2018
(in thousands)
Cash & cash equivalents $18,304 $32,011
Short term investments 17,779 11,303
$36,083 $43,314
As of December 31, 2019, we had approximately $36.1 million of cash and cash equivalents and short term investments, a decrease of approximately $7.2 million from $43.3 million in 2018. |
What is the amount authorised to be spent on the share repurchase program in 2018 and what is the remaining authorization in 2019? | During 2018, our board of directors authorized the repurchase of issued and outstanding shares of our common stock having an aggregate value of up to $10.0 million pursuant to a share repurchase program. No shares were repurchased under this program in 2019, As of December 31, 2019, we have a remaining authorization of $8.0 million for future share repurchases. |
What are the respective cash & cash equivalents held by the company in 2018 and 2019 respectively? | December 31,
2019 2018
(in thousands)
Cash & cash equivalents $18,304 $32,011
Short term investments 17,779 11,303
$36,083 $43,314 |
What is the percentage change in the cash & cash equivalents between 2018 and 2019? | December 31,
2019 2018
(in thousands)
Cash & cash equivalents $18,304 $32,011
Short term investments 17,779 11,303
$36,083 $43,314 |
What is the percentage change in the short term investments between 2018 and 2019? | December 31,
2019 2018
(in thousands)
Cash & cash equivalents $18,304 $32,011
Short term investments 17,779 11,303
$36,083 $43,314 |
What is the percentage change in the total liquidity and capital resources between 2018 and 2019? | December 31,
2019 2018
(in thousands)
Cash & cash equivalents $18,304 $32,011
Short term investments 17,779 11,303
$36,083 $43,314 |
What was the income tax expense in 2019,2018 and 2017 respectively? | For the year ended December 31, 2019, 2018 and 2017, the Company has recorded income tax expense of $128,000, $143,000 and $76,000, respectively, related to uncertain tax positions. The Company’s policy is to recognize potential interest and penalties related to unrecognized tax benefits associated with uncertain tax positions, if any, in the income tax provision. At December 31, 2019, 2018 and 2017, the Company had accrued $22,000, $15,000 and $11,000 in interest and penalties related to uncertain tax positions. |
What was the accrued interest and penalties in 2019, 2018 and 2017 respectively? | Year Ended December 31
2019 2018 2017
Beginning balance of unrecognized tax benefits $469 $326 $250
Additions for current year tax positions 106 142 65
Reductions for prior year tax positions — (14) —
Ending balance (excluding interest and penalties) 575 454 315
Interest and penalties 22 15 11
Total $597 $469 $326
For the year ended December 31, 2019, 2018 and 2017, the Company has recorded income tax expense of $128,000, $143,000 and $76,000, respectively, related to uncertain tax positions. The Company’s policy is to recognize potential interest and penalties related to unrecognized tax benefits associated with uncertain tax positions, if any, in the income tax provision. At December 31, 2019, 2018 and 2017, the Company had accrued $22,000, $15,000 and $11,000 in interest and penalties related to uncertain tax positions. |
What was the company's unremitted earnings in 2019? | Deferred income taxes have not been provided for undistributed earnings of the Company’s consolidated foreign subsidiaries because of the Company’s intent to reinvest such earnings indefinitely in active foreign operations. At December 31, 2019, the Company had $0.6 million in unremitted earnings that were permanently reinvested related to its consolidated foreign subsidiaries. |
What was the change in the Additions for current year tax positions from 2018 to 2019? | Year Ended December 31
2019 2018 2017
Beginning balance of unrecognized tax benefits $469 $326 $250
Additions for current year tax positions 106 142 65
Reductions for prior year tax positions — (14) —
Ending balance (excluding interest and penalties) 575 454 315
Interest and penalties 22 15 11
Total $597 $469 $326
The following changes occurred in the amount of unrecognized tax benefits (in thousands): |
In which year was Interest and penalties less than 20 thousand? | Year Ended December 31
2019 2018 2017
Beginning balance of unrecognized tax benefits $469 $326 $250
Additions for current year tax positions 106 142 65
Reductions for prior year tax positions — (14) —
Ending balance (excluding interest and penalties) 575 454 315
Interest and penalties 22 15 11
Total $597 $469 $326
The following changes occurred in the amount of unrecognized tax benefits (in thousands): |
What was the average Reductions for prior year tax positions from 2017-2019? | Year Ended December 31
2019 2018 2017
Beginning balance of unrecognized tax benefits $469 $326 $250
Additions for current year tax positions 106 142 65
Reductions for prior year tax positions — (14) —
Ending balance (excluding interest and penalties) 575 454 315
Interest and penalties 22 15 11
Total $597 $469 $326
The following changes occurred in the amount of unrecognized tax benefits (in thousands): |
Where can more details on each shares payment scheme be found? | Disclosures of the share-based payments offered to employees are set out below. More detail on each scheme is given in the Annual Report on Remuneration 2019 on pages 102 to 132. The charge to the Income Statement in respect of share-based payments is made up as follows: |
What is the total expense recognised in Income Statement in 2019? | 2019 2018
£m £m
Performance Share Plan 5.1 4.7
Employee Share Ownership Plan 1.1 1.0
Total expense recognised in Income Statement 6.2 5.7 |
What are the types of plans for the share-based payments offered to employees in the table? | 2019 2018
£m £m
Performance Share Plan 5.1 4.7
Employee Share Ownership Plan 1.1 1.0
Total expense recognised in Income Statement 6.2 5.7
Disclosures of the share-based payments offered to employees are set out below. More detail on each scheme is given in the Annual Report on Remuneration 2019 on pages 102 to 132. The charge to the Income Statement in respect of share-based payments is made up as follows: |
In which year was the amount for Employee Share Ownership Plan value larger? | 2019 2018
£m £m
Performance Share Plan 5.1 4.7
Employee Share Ownership Plan 1.1 1.0
Total expense recognised in Income Statement 6.2 5.7 |
What was the change in the amount for Performance Share Plan from 2018 to 2019? | 2019 2018
£m £m
Performance Share Plan 5.1 4.7
Employee Share Ownership Plan 1.1 1.0
Total expense recognised in Income Statement 6.2 5.7 |
What was the percentage change in the amount for Performance Share Plan from 2018 to 2019? | 2019 2018
£m £m
Performance Share Plan 5.1 4.7
Employee Share Ownership Plan 1.1 1.0
Total expense recognised in Income Statement 6.2 5.7 |
What was the net revenues in September 30, 2018? | June 30,
2019 March 31,
2019 December 31,
2018 September 30,
2018
Net revenues $252,359 $250,864 $252,680 $239,886
Gross profit $138,946 $138,919 $141,299 $132,071
Net (loss) income (1) $(17,055) $(6,932) $7,199 $(9,065)
Net (loss) income per share – basic $(0.14) $(0.06) $0.06 $(0.08)
Net (loss) income per share – diluted $(0.14) $(0.06) $0.06 $(0.08)
Quarterly results for the years ended June 30, 2019 and 2018 are as follow (in thousands, except per share amounts). |
What was the gross profit in June 30, 2019? | June 30,
2019 March 31,
2019 December 31,
2018 September 30,
2018
Net revenues $252,359 $250,864 $252,680 $239,886
Gross profit $138,946 $138,919 $141,299 $132,071
Net (loss) income (1) $(17,055) $(6,932) $7,199 $(9,065)
Net (loss) income per share – basic $(0.14) $(0.06) $0.06 $(0.08)
Net (loss) income per share – diluted $(0.14) $(0.06) $0.06 $(0.08)
Quarterly results for the years ended June 30, 2019 and 2018 are as follow (in thousands, except per share amounts). |
What was the basic net (loss) income per share in December 31, 2018? | June 30,
2019 March 31,
2019 December 31,
2018 September 30,
2018
Net revenues $252,359 $250,864 $252,680 $239,886
Gross profit $138,946 $138,919 $141,299 $132,071
Net (loss) income (1) $(17,055) $(6,932) $7,199 $(9,065)
Net (loss) income per share – basic $(0.14) $(0.06) $0.06 $(0.08)
Net (loss) income per share – diluted $(0.14) $(0.06) $0.06 $(0.08)
Quarterly results for the years ended June 30, 2019 and 2018 are as follow (in thousands, except per share amounts). |
What was the change in the net revenues between March 31 and June 30, 2019? | June 30,
2019 March 31,
2019 December 31,
2018 September 30,
2018
Net revenues $252,359 $250,864 $252,680 $239,886
Gross profit $138,946 $138,919 $141,299 $132,071
Net (loss) income (1) $(17,055) $(6,932) $7,199 $(9,065)
Net (loss) income per share – basic $(0.14) $(0.06) $0.06 $(0.08)
Net (loss) income per share – diluted $(0.14) $(0.06) $0.06 $(0.08)
Quarterly results for the years ended June 30, 2019 and 2018 are as follow (in thousands, except per share amounts). |
What was the change in the gross profit between September 30 and December 31, 2018? | June 30,
2019 March 31,
2019 December 31,
2018 September 30,
2018
Net revenues $252,359 $250,864 $252,680 $239,886
Gross profit $138,946 $138,919 $141,299 $132,071
Net (loss) income (1) $(17,055) $(6,932) $7,199 $(9,065)
Net (loss) income per share – basic $(0.14) $(0.06) $0.06 $(0.08)
Net (loss) income per share – diluted $(0.14) $(0.06) $0.06 $(0.08)
Quarterly results for the years ended June 30, 2019 and 2018 are as follow (in thousands, except per share amounts). |
What was the percentage change in the net (loss) income between March 31 and June 30, 2019? | June 30,
2019 March 31,
2019 December 31,
2018 September 30,
2018
Net revenues $252,359 $250,864 $252,680 $239,886
Gross profit $138,946 $138,919 $141,299 $132,071
Net (loss) income (1) $(17,055) $(6,932) $7,199 $(9,065)
Net (loss) income per share – basic $(0.14) $(0.06) $0.06 $(0.08)
Net (loss) income per share – diluted $(0.14) $(0.06) $0.06 $(0.08) |
What are trade receivables? | Trade receivables are amounts due from customers for services performed in the ordinary course of business. They are generally due for settlement within 30 days and therefore are all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional and has been invoiced at the reporting date. The Group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method. |
What does accrued income relate to? | Accrued income relates to the Group’s rights to consideration for services provided but not invoiced at the reporting date. Accrued income is transferred to receivables when invoiced. Other receivables include £0.1m due from Auto Trader Auto Stock Limited, a related party (note 34). |
What are the components factored in when calculating the net trade receivables? | 2019 (Restated) 2018
£m £m
Trade receivables 27.0 28.8
Less: provision for impairment of trade receivables (2.1) (3.4)
Net trade receivables 24.9 25.4
Accrued income 28.0 26.7
Prepayments 2.9 2.7
Other receivables 0.3 0.1
Total 56.1 54.9 |
What was the change in Prepayments in 2019 from 2018? | 2019 (Restated) 2018
£m £m
Trade receivables 27.0 28.8
Less: provision for impairment of trade receivables (2.1) (3.4)
Net trade receivables 24.9 25.4
Accrued income 28.0 26.7
Prepayments 2.9 2.7
Other receivables 0.3 0.1
Total 56.1 54.9 |
What was the percentage change in Prepayments in 2019 from 2018? | 2019 (Restated) 2018
£m £m
Trade receivables 27.0 28.8
Less: provision for impairment of trade receivables (2.1) (3.4)
Net trade receivables 24.9 25.4
Accrued income 28.0 26.7
Prepayments 2.9 2.7
Other receivables 0.3 0.1
Total 56.1 54.9 |
In which year was total trade receivables larger? | 2019 (Restated) 2018
£m £m
Trade receivables 27.0 28.8
Less: provision for impairment of trade receivables (2.1) (3.4)
Net trade receivables 24.9 25.4
Accrued income 28.0 26.7
Prepayments 2.9 2.7
Other receivables 0.3 0.1
Total 56.1 54.9
18. Trade and other receivables |
How much is the valuation allowance maintained As of December 28, 2019? | Provision for income taxes reflects the tax provision on our operations in foreign and U.S. jurisdictions, offset by tax benefits from a partial release of valuation allowance against U.S. federal and state deferred tax assets ("DTAs") and from lapsing of statute of limitations related to uncertain tax positions in foreign jurisdictions. As of December 28, 2019, we maintain a valuation allowance of $36.6 million primarily against our California deferred tax assets and foreign tax credits, due to uncertainty about the future realization of these assets. |
What is the change in Provision (benefit) for income taxes from Fiscal Year Ended December 28, 2019 to December 29, 2018? | Fiscal Year Ended
December 28, 2019 December 29, 2018 December 30, 2017
(Dollars in thousands)
Provision (benefit) for income taxes $11,717 $(70,109) $1,293
Effective tax rate 22.9 % (206.6) % 3.1 % |
Subsets and Splits